NEW YORK, June 19, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Sotheby's
("BID" or the "Company") (NYSE: BID) in connection with the
proposed acquisition of the Company by BidFair USA, a company wholly owned by French
billionaire Patrick Drahi. Under the terms of the agreement,
Sotheby's shareholders will receive $57 for each BID share they own.
If you own Sotheby's shares and wish to
discuss this investigation or have any questions concerning this
notice or your rights or interests, please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Visit our website
http://www.weisslawllp.com/sothebys/
Or follow us on Twitter @MarketsAlert
WeissLaw is investigating whether Sotheby's Board acted to
maximize shareholder value prior to entering into the
agreement. Notably, prior to the acquisition announcement,
BID reported a 16% annual increase in consolidated sales for fiscal
year 2018.
WeissLaw is concerned whether the growth touted by the Company's
CEO, Tad Smith, comes at the expense
of shareholders of BID. Specifically, WeissLaw is
investigating whether BID's Board conducted a fair process in
agreeing to the sale, whether the proposed sale undervalues the
Company, and whether all material information related to the sale
is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP