Provident Acquisition Corp. (Nasdaq - PAQC)

Provident Acquisition Corp. (Nasdaq – PAQC)

SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Provident Acquisition Corp. (Nasdaq – PAQC)

BALA CYNWYD – March 7, 2022 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Provident Acquisition Corp. (“Provident” or the “Company”) (Nasdaq – PAQC) for possible breaches of fiduciary duty and other violations of federal and state law in connection with an agreement pursuant to which Provident, a special purpose acquisition company, will combine with Perfect Corp. (“Perfect”), a global leader in providing augmented reality (“AR”) and artificial intelligence (“AI”) Software-as-a-Service (“SaaS”) solutions to beauty and fashion industries. Under the terms of the agreement, Provident shareholders will retain ownership of only 20% of the combined company.

The investigation concerns whether the Provident Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.

If you own shares of Provident stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, or call toll free 855-576-4847.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.

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