SAN DIEGO, April 25, 2024 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP, a leading stockholder rights law firm, announced today that it has initiated an investigation into the board members of AssetMark Financial (NYSE:AMK) ("AssetMark") concerning potential breaches of fiduciary duties related to the proposed sale of the Company to private equity firm GTCR.
On April 25, 2024, AssetMark informed the public that it has agreed to a deal with GTCR, in which stockholders will receive $35.25 per share in an all-cash offer. Upon completion of the deal, AssetMark will be a private Company.
Johnson Fistel’s investigation focuses on whether AssetMark’s board failed to satisfy its duties to the Company's stockholders, including whether the board sufficiently pursued alternatives to the acquisition, and whether the board secured the best possible price for AssetMark’s shares. This is particularly pertinent given analyst projections for earnings and revenue growth, Additionally, change of control provisions for key executives could potentially trigger millions of dollars in change of control payouts upon completion of the deal.
Stockholders of AssetMark are encouraged to contact Johnson Fistel to discuss their legal rights in this matter. You can click or copy and paste the following link to join this investigation:
https://www.cognitoforms.com/JohnsonFistel/AssetMarkFinancial
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