PHILADELPHIA, Sept. 08, 2021 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. is investigating whether certain officers and/or directors of Legacy Acquisition Corp (“Legacy Acquisition” or the “Company”) (: LGC) received greater benefits than Legacy Acquisition investors as a result of the Company’s merger with Parts iD, Inc. (“Parts iD”) (: ID).
The investigation concerns whether Legacy Acquisition’s board of directors or senior management failed to manage Legacy Acquisition in an acceptable manner, in breach of their fiduciary duties to the Company’s shareholders, and whether Legacy Acquisition’s shareholders suffered damages as a result.
On September 18, 2020, Legacy Acquisition executed a merger agreement with the predecessor to Parts iD, with an October 19, 2020 record date for the shareholder vote. On November 20, 2020, the merger transaction closed, with Parts iD continuing as the successor entity.
In its final days of trading pre-merger, Legacy Acquisition’s stock price dropped significantly, thereby injuring investors.
IF YOU WERE A LEGACY ACQUISITION SHAREHOLDER AND WISH TO DISCUSS KEHOE LAW FIRM’S INVESTIGATION OR HAVE QUESTIONS ABOUT YOUR POTENTIAL LEGAL RIGHTS, PLEASE CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
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