SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Redbox Entertainment Inc. (Nasdaq – RDBX)
BALA CYNWYD – May 11 2022 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Redbox Entertainment Inc. (“Redbox” or the “Company”) (Nasdaq – RDBX) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s agreement to be acquired by Chicken Soup for the Soul Entertainment, Inc. (“CSSE”) (Nasdaq – CSSE). Under the terms of the merger agreement, Redbox stockholders will receive a fixed exchange ratio of 0.087 of a share of class A common stock of Chicken Soup for the Soul Entertainment per Redbox share. Following the close of the transaction, Chicken Soup for the Soul Entertainment stockholders will own approximately 76.5% of the combined company, and Redbox stockholders will own approximately 23.5% of the combined company, on a fully diluted basis.
The investigation concerns whether the Redbox Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether CSSE is paying too little for the Company.
If you own shares of Redbox 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.