NEW YORK, Aug. 12, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of CarLotz, Inc. (NASDAQ: LOTZ) (“CarLotz”) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Shift Technologies, Inc. (NASDAQ: SFT) (“Shift”).
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On August 9, 2022, CarLotz announced that it had entered into an agreement to be acquired by Shift in an all-stock deal. Pursuant to the merger agreement, CarLotz shareholders are expected to receive approximately 0.692158 shares of Shift common stock for each share of CarLotz common stock. The deal is scheduled to close in the fourth quarter of 2022.
Bragar Eagel & Squire is concerned that CarLotz’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best possible result for CarLotz’s stockholders.
If you own shares of CarLotz and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato by email at [email protected] or telephone at (646) 860 -9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Previous results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, PC
Melissa Fortunato, Esq.
[email protected]
www.bespc.com
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