GLATFELTER CORPORATION MILWAUKEE, Feb. 13, 2024 /PRNewswire/ -- Ademi LLP is investigating Glatfelter (NYSE: GLT) for possible breaches of fiduciary duty and other violations of law in its transaction with Berry Global Group.
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In the transaction, Glatfelter shareholders will receive only approximately 10 per cent of the shares of the newly merged entity, following the spin-off and merger of the majority of Berry's Health, Hygiene ad Specialties segment, including nonwovens and films. Berry shareholders will receive 90% of the newly merged entity. The transaction agreement unreasonably limits competing transactions for Glatfelter by imposing a significant penalty if Glatfelter accepts a competing bid. Glatfelter insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Glatfelter's board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
If you own Glatfelter common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/glatfelter-corporation.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
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SOURCE Ademi LLP
