BALA CYNWYD, Pa., Feb. 28, 2022 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky or Marc Ackerman at 855-576-4847. There is no cost or financial obligation to you.
Universal Security Instruments, Inc. ( American - UUU)
Under the terms of the agreement, Infinite Reality shareholders will hold approximately 97% of USI’s outstanding common stock and the shareholders of USI prior to the merger will retain ownership of approximately 3% of USI’s outstanding shares. In addition, the value of the business assets of USI and its ongoing business will continue to inure to the benefit of the pre-merger shareholders of USI. The investigation concerns whether the USI Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of USI ownership interest in the combined company.
Additional information can be found at https://www.brodskysmith.com/cases/universal-security-instruments-inc--american-uuu/.
South Jersey Industries, Inc. ( - SJI)
Under the terms of the agreement, SJI will be acquired by Infrastructure Investments Fund (“IIF”). Under the terms of the agreement, SJI shareholders will receive $36.00 in cash for each share of SJI they hold, for an enterprise value of approximately $8.1 billion. The investigation concerns whether the SJI Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether IIF is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/south-jersey-industries-inc--sji/.
Tower Semiconductor (Nasdaq - TSEM)
Under the terms of the agreement, Tower will be acquired by Intel Corporation (Nasdaq - INTC). Tower shareholders will receive $53.00 in cash for each share of Tower stock they hold. The investigation concerns whether the Tower Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Intel is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/tower-semiconductor-nasdaq-tsem/.
Preferred Apartment Communities, Inc. ( - APTS)
Under the terms of the agreement, Preferred Apartment Communities, Inc. (“PAC”) will be acquired by Blackstone Real Estate Income Trust, Inc. (“BREIT”) for $25.00 per share in an all-cash transaction valued at approximately $5.8 billion. The investigation concerns whether the PAC Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether BREIT is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/preferred-apartment-communities-inc--apts/.
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.
