PHILADELPHIA, Jan. 06, 2023 (GLOBE NEWSWIRE) -- Barrack, Rodos & Bacine is investigating Acacia Research Corporation (NASDAQ: ACTG) based on issues arising from its recapitalization agreement with Starboard Value LP, entered into on October 30, 2022; the claimed “resignation” two days later of Acacia’s former CEO; and certain actions taken since that time that appear to be even more favorable to Starboard and unfavorable to Acacia’s public shareholders.
The investigation primarily concerns whether the recapitalization, the former CEO’s removal, and actions taken since that time comply with Delaware law, which is Acacia’s state of incorporation.
If you are an Acacia shareholder, you are encouraged to contact Mark Stein or Linda Border at Barrack, Rodos & Bacine, at the toll-free number 877-386-3304, or via email at mstein@barrack.com or lborder@barrack.com, to learn more about the firm’s investigation and your legal rights and options.
Philadelphia-based Barrack, Rodos & Bacine has more than four decades of experience prosecuting securities law class actions and other corporate governance actions, including cases involving insider dealing, and has achieved some of the largest recoveries in the history of securities litigation in the U.S. The firm's largest recoveries on behalf of investors include $6.19 billion for WorldCom investors, $3.32 billion for Cendant investors, $1.05 billion for McKesson investors, and $970.5 million for AIG investors.
