MONSEY, N.Y., Dec. 12, 2022 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the directors of Weber, Inc. (NYSE: WEBR) (“Weber”) acted in the best interests of Weber shareholders in approving the sale of Weber to its controlling shareholder, BDT Capital Partners (“BDT”), for $8.05 per share in cash for all outstanding Class A shares not already owned by BDT.
If you remain a Weber 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/weber-inc/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On December 12, 2022, Weber announced that it had agreed to be acquired by BDT for $8.05 per share in cash for all outstanding Class A shares not already owned by BDT, its controlling shareholder. The agreement has been approved by the Weber board of directors (“Board”) upon the recommendation of a Special Committee of the Board.
Our investigation concerns whether the members of the Special Committee of the Board that recommended the sale were truly independent of BDT, whether the acquisition price adequately compensates Weber shareholders, and whether all material information regarding the transaction has been fully disclosed.
In particular, BDT sold shares of Weber to the public at $14.00 per share in an initial public offering (IPO) in August 2021. Thus, the sales price is 42.5% below the IPO price, representing a substantial loss in value for public Weber shareholders in just over a year.
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
