MONSEY, N.Y., Jan. 18, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the directors of Volta, Inc. (NYSE: VLTA) (“Volta”) acted in the best interests of Volta shareholders in approving the sale of Volta to Shell USA Inc (“Shell”) for $0.86 cents per share in cash.
If you remain a Volta shareholder and have questions about your legal rights, you may contact our firm at the following link to discuss your options at no charge:
https://wohlfruchter.com/cases/volta/
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 18, 2023, Volta announced that it had agreed to be acquired by Shell for $0.86 cents per share in cash. The agreement has been approved by the Volta board of directors (“Board”).
“Our investigation concerns whether Volta’s Board acted in the best interests of Volta shareholders in approving the sale,” explained Joshua Fruchter, one of the firm’s name partners. “This includes whether the acquisition price adequately compensates Volta shareholders, and whether all material information regarding the transaction has been fully disclosed.”
Notably, the 52-week high for Volta’s stock is $5.81 per share. Moreover, according to an analysis of Wall Street price targets for Volta in the last 90 days published on Seeking Alpha, there is an average price target of $0.95 cents per share, and a high price target of $2.00 per share, both of which are above the deal price.
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, 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
