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(BMCH) Alert: Johnson Fistel Investigates Proposed Sale of BMC Stock Holdings; Are Shareholders Getting a Fair Deal?

SAN DIEGO, Aug. 27, 2020 /PRNewswire/ — Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of BMC Stock Holdings, Inc. (“BMC ” or the “Company”) (NASDAQ: BMCH) breached their fiduciary duties in connection with the proposed sale…

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SAN DIEGO, Aug. 27, 2020 /PRNewswire/ — Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of BMC Stock Holdings, Inc. (“BMC ” or the “Company”) (NASDAQ: BMCH) breached their fiduciary duties in connection with the proposed sale of the Company to Builders FirstSource, Inc. (“Builders” or the “Company”) (NASDAQ: BLDR).

On August 27, 2020, BMC announced that it had entered into a definitive merger agreement with Builders. Under the terms of the deal, BMC shareholders will receive a fixed exchange ratio of 1.3125 shares of Builders common stock for each share of BMC common stock.

The investigation concerns whether the BMC board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for BMC shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts’ projections for future earnings and revenue growth

If you are a shareholder of BMC and believe the proposed buyout price is too low or you’re interested in learning more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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SOURCE Johnson Fistel, LLP

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http://www.johnsonfistel.com

Source: https://www.prnewswire.com:443/news-releases/bmch-alert-johnson-fistel-investigates-proposed-sale-of-bmc-stock-holdings-are-shareholders-getting-a-fair-deal-301119951.html

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SHAREHOLDER ALERT: WeissLaw LLP Investigates INSU Acquisition Corp. II

NEW YORK, Nov. 25, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of INSU Acquisition Corp. II (“INAQ” or the “Company”) (NASDAQ: INAQ) in connection with the Company’s proposed merger with…

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NEW YORK, Nov. 25, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of INSU Acquisition Corp. II (“INAQ” or the “Company”) (NASDAQ: INAQ) in connection with the Company’s proposed merger with Metromile, Inc. (“Metromile”), a privately-held digital insurance platform and pay-per-mile auto insurer.  Under the terms of the merger agreement, INAQ will acquire Metromile through a reverse merger that will result in Metromile becoming a public company traded on the Nasdaq Capital Market under the ticker symbol “MLE.”  The proposed transaction implies an estimated pro forma enterprise value of $956 million.

If you own INAQ shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

https://www.weisslawllp.com/INAQ/ 

Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
[email protected]

WeissLaw is investigating whether INAQ’s board acted in the best interest of INAQ’s public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of Metromile, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to INAQ public shareholders. 

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 [email protected]

SOURCE WeissLaw LLP

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http://weisslawllp.com

Source: https://www.prnewswire.com:443/news-releases/shareholder-alert-weisslaw-llp-investigates-insu-acquisition-corp-ii-301180831.html

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Lightspeed Announces Closing of Acquisition of ShopKeep

Landmark deal cements Lightspeed as a category leader for complex SMBs in the United States as economy undergoes unprecedented digital acceleration MONTREAL, Nov. 25, 2020 /PRNewswire/ – Lightspeed POS Inc. (NYSE: LSPD) (TSX: LSPD), a leading provider of cloud-based, omnichannel commerce…

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Landmark deal cements Lightspeed as a category leader for complex SMBs in the United States as economy undergoes unprecedented digital acceleration

MONTREAL, Nov. 25, 2020 /PRNewswire/ – Lightspeed POS Inc. (NYSE: LSPD) (TSX: LSPD), a leading provider of cloud-based, omnichannel commerce platforms, today announced the closing of the previously-reported acquisition of ShopKeep Inc. (ShopKeep), a leading cloud commerce platform provider based in New York City. Lightspeed finalized the acquisition for consideration of $145.2 million in cash and the issuance of 7,437,397 subordinate voting shares in the capital of Lightspeed, subject to customary post-closing adjustments. Lightspeed has also assumed ShopKeep’s stock option plan, with the outstanding stock options thereunder converting into options to purchase 1,254,534 subordinate voting shares in the capital of Lightspeed.

With the closing of this acquisition, Lightspeed now serves over 100,000 customer locations worldwide, generating approximately $33 billion in gross transaction volume1 annually, in each case as of September 30, 2020. 

RBC Capital Markets acted as advisor to Lightspeed on the transaction.

About Lightspeed

Lightspeed (NYSE and TSX: LSPD) powers complex small and medium-sized businesses with its cloud-based, omnichannel commerce platforms in over 100 countries. With smart, scalable and dependable point of sale systems, Lightspeed provides all-in-one solutions that drive innovation and digital transformation within the retail, hospitality and golf industries. Its product suite enables SMBs to sell across channels, manage operations, engage with consumers, accept payments and ultimately grow their business.

Headquartered in Montreal, Canada, Lightspeed is trusted by favorite local businesses worldwide, where communities go to shop and dine. Lightspeed has staff located in Canada, USA, Europe, and Australia.

Forward-Looking Statements

This news release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as “will”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates” or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of the Company’s management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors. A number of risks, uncertainties and other factors may cause actual results to differ materially from the forward-looking statements contained in this news release, including, among other factors, those risk factors identified in our most recent Management’s Discussion and Analysis of Financial Condition and Results of Operations, under “Risk Factors” in our most recent Annual Information Form, and in our other filings with the Canadian Securities regulatory authorities and the U.S. Securities and Exchange Committee, all of which are available under our profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Readers are cautioned to consider these and other factors carefully when making decisions with respect to Lightspeed’s subordinate voting shares and not to place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are not guarantees of future performance and, while forward-looking statements are based on certain assumptions that the Company considers reasonable, actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Company. Except as may be expressly required by applicable law, Lightspeed does not undertake any obligation to update publicly or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

_____________________________________________________________________

1Gross transaction volume means the total dollar value of transactions processed through Lightspeed’s and ShopKeep’s cloud-based SaaS platform in the period, net of refunds, inclusive of shipping and handling, duty and value-added taxes. It does not represent revenue earned by Lightspeed and ShopKeep. 

SOURCE Lightspeed POS Inc.

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Source: https://www.prnewswire.com:443/news-releases/lightspeed-announces-closing-of-acquisition-of-shopkeep-301180851.html

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SHAREHOLDER ALERT: WeissLaw LLP Investigates BMC Stock Holdings, Inc.

NEW YORK, Nov. 25, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of BMC Stock Holdings, Inc. (“BMCH” or the “Company”) (NYSE: BMCH) in connection with the proposed acquisition of the Company by…

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NEW YORK, Nov. 25, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of BMC Stock Holdings, Inc. (“BMCH” or the “Company”) (NYSE: BMCH) in connection with the proposed acquisition of the Company by Builders FirstSource, Inc. (“BLDR”) (NASDAQ: BLDR).  Under the terms of the merger agreement, BMCH stockholders will receive 1.3125 BLDR shares for each share of BMCH common stock they own, representing implied per-share merger consideration of $48.68 based upon BLDR’s November 24, 2020 closing price of $37.09.  At closing, BMCH’s current stockholders will only own a 43% stake in the combined company.

If you own BMCH shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

http://www.weisslawllp.com/bmc-stock-holdings-inc/

Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
[email protected]

WeissLaw is investigating whether BMCH’s management and the board may have artificially revised BMCH’s financial projections downward in order to make the proposed transaction appear more favorable to BMCH stockholders than it truly is.  Despite having a pre-existing set of long-term projections developed by management and relied upon by the board during the sales process, BMCH created a new, significantly revised set of financial projections in apparent response to BLDR’s June 2020 revised all-stock acquisition proposal (“July Projections”).  This occurred little more than a month before the BMCH board agreed to the proposed merger, and seems wholly inconsistent with the Company’s recent unprecedented financial performance.  To make matters worse, the earlier set of projections, the assumptions underlying those projections, and the basis for the significant revision of the July Projections is either wholly omitted or inadequately disclosed to BMCH shareholders.  Without disclosure of the Company’s earlier long-term projections or qualitative discussion describing how the long-term projections were changed in July, BMCH stockholders have no way to assess whether the revision was proper in light of the Company’s record-setting second quarter financial results.

Given these facts, WeissLaw is concerned whether the board acted in the best interest of BMCH’s public stockholders in agreeing to the proposed transaction and whether the exchange ratio is fair to the Company’s public stockholders, and whether all information concerning the process leading to the proposed transaction and valuation of the Company on a standalone basis has been 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 [email protected]

SOURCE WeissLaw LLP

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http://weisslawllp.com

Source: https://www.prnewswire.com:443/news-releases/shareholder-alert-weisslaw-llp-investigates-bmc-stock-holdings-inc-301180830.html

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