MILWAUKEE, June 17, 2019 /PRNewswire/ -- Ademi & O'Reilly, LLP is investigating the Sotheby's (BID) for possible breaches of fiduciary duty and other violations of the law in connection with the sale of Sothbey's to Bidfair, an entity owned by media and telecom entrepreneur as well as art collector, Patrick Drahi.
Click here to learn how to join the action: http://ademilaw.com/case/sothebys or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi & O'Reilly, LLP alleges Sotheby's financial outlook is improving and yet Sotheby's shareholders will receive only $57 per share. Bidfair is acquiring Sotheby's at a substantial discount. The merger agreement unreasonably limits competing bids for Sotheby's by prohibiting solicitation of further bids, and imposing a termination penalty if Sotheby's accepts a superior bid. Sotheby's insiders will receive millions of dollars as part of change of control arrangements. We are investigating on the conduct of Sotheby's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Sotheby's.
If you own common stock in Sotheby's and wish to obtain additional information, please contact Guri Ademi either at firstname.lastname@example.org or toll-free: 866-264-3995, or http://ademilaw.com/case/sothebys.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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