SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Enterprise Diversified, Inc. (OTC – SYTE)
BALA CYNWYD – January 5, 2022 /Access Wire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Enterprise Diversified, Inc. (“Enterprise Diversified” or the “Company”) (OTC – SYTE) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s proposed merger with CrossingBridge Advisors, LLC (“CrossingBridge”). Under the terms of the merger agreement, the outstanding securities of each of Enterprise Diversified and CrossingBridge will be exchanged for common stock of Enterprise Diversified. Immediately upon consummation of the merger, Enterprise Diversified will own 52.5% of the outstanding common stock of Enterprise Diversified. In the merger, CrossingBridge’s parent company, Cohanzick Management, LLC (“Cohanzick”), will receive Enterprise Diversified Class A and Class B common stock, which will result in Cohanzick having approximately 61.3% voting interest in Enterprise Diversified.
The investigation concerns whether the Enterprise Diversified Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether CrossingBridge is paying too little for the Company.
If you own shares of Enterprise Diversified 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.