WILMINGTON, Del., Feb. 26, 2024 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, is investigating potential breach of fiduciary duty claims against the Board of Directors of Agiliti Inc. (NYSE: AGTI) (“Agiliti” or the “Company”) relating to the sale of the Company to THL Partners (“THL Partners”), which owns and controls over 73% of Agiliti’s stock. The two parties have announced that they reached an agreement in principle pursuant to which THL Partners will acquire Agiliti in a going private merger. Because THL owns a majority of Agiliti’s stock, stockholders have no voice and there is no vote being held on the merger. As a result of the merger, Agiliti shareholders are only anticipated to receive $10.00 per share in cash in exchange for each share of Agiliti.
Andrews & Springer’s investigation has revealed that the process leading up to the announcement of the merger appears to have significant conflicts of interest thus making the process and consideration unfair. Unlike minority stockholders which are getting cashed out for only $10 per share, Agiliti’s CEO, Tom Leonard, has agreed to roll over a portion of his Agiliti shares into the equity of the surviving company after the merger closes. Evidence from certain members of the analyst community covering Agiliti suggests that the $10 per share consideration is also unfair. Analysts at Craig-Hallum Capital set a $23 per share price target on January 4, 2024. The $10.00 per share price is also lower than Jefferies’ $10.50 per share price target set on November 12, 2023.
If you own shares of Agiliti and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/agiliti-merger-class-action-investigation/ or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Among Andrews & Springer’s most recent successes include (i) securing a $51 billion derivative recovery through complete rescission of Elon Musk’s $55 billion pay package in Tornetta v. Musk, et al., C.A. 2018-0408-KSJM and (ii) securing a $1 billion cash settlement for stockholders in In re Dell Technologies In. Class V Stockholder Litigation, C.A. 2018-0816-JTL. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.
Contact: Craig J. Springer, Esq.
cspringer@andrewsspringer.com
Toll Free: 1-800-423-6013
