BALA CYNWYD, PA / ACCESSWIRE / September 15, 2021 / Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of EJF Acquisition Corporation ("EJF" or the "Company") (NASDAQ:EJFA) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which EJF, a special purpose acquisition company, will combine with Pagaya Technologies Ltd. ("Pagaya"), a fintech that manages assets for banks, insurance companies, pensions funds, asset managers, and sovereign wealth funds using artificial intelligence, and result in Pagaya becoming a publicly-listed company. Under the terms of the agreement, EJF shareholders will retain ownership of less than 6% of the combined company.
The investigation concerns whether the EJF 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 EJF 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, visit https://www.brodskysmith.com/cases/ejf-acquisition-corporation-nasdaq-ejfa/, 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.
SOURCE: Brodsky & Smith, LLC
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