SHAREHOLDER ALERT: WeissLaw LLP Investigates AgroFresh Solutions, Inc.
NEW YORK, July 20, 2020 /PRNewswire/ -- URGENT: SHAREHOLDER VOTE AUGUST 6, 2020
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of AgroFresh Solutions, Inc. ("AGFS" or the "Company") (NASDAQ: AGFS) in connection with the Company's June 13, 2020 investment agreement with an affiliate of Paine Schwartz Partners LLC ("Paine Schwartz"). Under the terms of the investment agreement, Paine Schwartz will purchase $150 million of the Company's new convertible preferred stock. Paine Schwartz's preferred stock investment carries an eye-popping 16% dividend (with a minimum 8% payable in cash), and will result in Paine Schwartz controlling approximately 36% of AGFS's common shares.
If you own AGFS shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether AGFS's board is truly independent and was acting in the best interest of AGFS's common stockholders by agreeing to the preferred share issuance , and whether all material information is fully and fairly disclosed in AGFS's July 6, 2020 definitive proxy statement. These issues deserve heightened scrutiny given the rich return on investment and virtual controlling interest in AGFS that the share issuance delivers to Paine Schwartz.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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SOURCE WeissLaw LLP