MONSEY, N.Y., Jan. 02, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Via Renewables, Inc. (Nasdaq: VIA) (“VIA”) to Retailco, LLC (“Retailco”) for $11.00 per share in cash.
If you remain a VIA shareholder and have concerns about the fairness of the price, you may contact our firm at the following link to discuss your legal rights at no charge:
https://wohlfruchter.com/cases/via-renewables/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On January 2, 2024, VIA announced that it had agreed to be acquired by Retailco for a price of $11.00 per share in cash. The agreement was negotiated on behalf of VIA by a Special Committee of its Board of Directors with the assistance of purportedly independent financial and legal advisors.
Retailco is an entity owned by TxEx Energy Investments, LLC, which is wholly owned by William Keith Maxwell, III (“Maxwell”). Maxwell is VIA’s current Chief Executive Officer and Chairman of the Board and directly and indirectly owns approximately 65.7% of VIA common stock.
“We are investigating whether VIA’s Board acted in the best interests of VIA shareholders in approving the sale,” explained Joshua Fruchter, a partner at Wohl & Fruchter. “This includes whether the members of the Special Committee that recommended the transaction were truly independent of Maxwell, whether the acquisition price adequately compensates VIA shareholders, and whether all material information regarding the transaction has been fully disclosed.”
About Wohl & Fruchter
Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
