San Diego, CA -- (SBWire) -- 04/13/2021 --An investigation on behalf of investors, who currently hold shares of Greenlane Holdings, Inc. (NASDAQ: GNLN), was announced concerning whether the takeover of Greenlane Holdings, Inc. is unfair to NASDAQ: GNLN stockholders.
Investors who purchased shares of Greenlane Holdings, Inc. (NASDAQ: GNLN) and currently hold any of those NASDAQ: GNLN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Greenlane Holdings, Inc. breached their fiduciary duties owed to NASDAQ: GNLN investors in connection with the proposed acquisition.
On March 31, 2021, Greenlane Holdings, Inc. (NASDAQ: GNLN) and KushCo Holdings, Inc. (OTCQX: KSHB) announced that they have entered into a merger agreement, pursuant to which KushCo Holdings, Inc. will become a wholly owned subsidiary of Greenlane Holdings, Inc. Under the terms of the Merger Agreement, KushCo Holdings, Inc.'s stockholders will receive approximately 0.2546 shares of Greenlane Holdings, Inc. Class A common stock for each share of KushCo Holdings, Inc. common stock (the "Base Exchange Ratio"), subject to adjustment as described below.
However, given that the majority stockholder of Greenlane Holdings, Inc., which is an affiliate of two directors of Greenlane Holdings, Inc., has already entered into a support agreement with Greenlane and KushCo, pursuant to which it has agreed to support and vote 100% of its voting power in favor of certain actions required to consummate the Transaction, the investigation concerns whether the offer is unfair to Greenlane Holdings, Inc. (NASDAQ: GNLN stockholders. More specifically, the investigation concerns whether the Greenlane Holdings, Inc. (NASDAQ: GNLN Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Shares of Greenlane Holdings, Inc. (NASDAQ: GNLN) closed on April 12, 2021, at $5.63 per share.
Those who are current investors in Greenlane Holdings, Inc. (NASDAQ: GNLN) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Greenlane Holdings, Inc. (NASDAQ:GNLN) Investor Alert: Investigation of Takeover
An investigation on behalf of investors of Greenlane Holdings, Inc. (NASDAQ:GNLN) in connection with the proposed takeover was announced and NASDAQ:GNLN stockholders should contact the Shareholders Foundation.