Great Lakes Dredge & Dock $17 Sale Under Fiduciary Duty Investigation
Halper Sadeh LLC is investigating Great Lakes Dredge & Dock’s $17 per share sale to Saltchuk Resources for potential breaches of fiduciary duty that may limit superior competing offers. Shareholders could seek increased consideration, additional disclosures or other relief on a contingent fee basis.
1. Sale Transaction Details
Great Lakes Dredge & Dock agreed to sell all outstanding shares for $17.00 each to Saltchuk Resources, delivering immediate cash consideration to shareholders upon deal closing.
2. Investigation by Halper Sadeh LLC
Halper Sadeh LLC has launched an investigation into the transaction for potential breaches of fiduciary duty, including whether the deal’s terms unduly restrict superior competing offers.
3. Shareholder Remedies and Options
Shareholders are being advised of their rights to pursue increased deal consideration, demand additional disclosures or seek other forms of relief, with legal fees handled on a contingent fee basis.