Investigation announced for Investors who purchased shares of Sterling Check Corp. (NASDAQ: STER) over potential Wrongdoing

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Sterling Check Corp. .

Investors who purchased shares of Sterling Check Corp. (NASDAQ: STER) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Sterling Check Corp. directors breached their fiduciary duties and caused damage to the company and its shareholders.

On February 29, 2024 - First Advantage Corporation (NASDAQ: FA), announced that it has entered into a purchase agreement to acquire Sterling Check Corp. (NASDAQ:STER). First Advantage will issue a combination of cash and stock valuing Sterling at approximately $2.2 billion, including Sterling's outstanding debt. Under the terms of the agreement, Sterling shareholders will elect to receive either $16.73 in cash or 0.979 shares of First Advantage common stock for each Sterling share.

However, given that certain entities advised by or affiliated with Goldman Sachs & Co. LLC., which own approximately 52.8% of Sterling's outstanding shares, entered already into a support agreement pursuant to which they have delivered a written consent approving the transaction, the investigation concerns whether the offer is unfair to NASDAQ: STER stockholders. More specifically, given that NASDAQ: STER shares reached as high as $28.76 per share in April 2022, the investigation concerns whether the Sterling Check Corp. Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Those who are current investors in Sterling Check Corp. (NASDAQ: STER) shares have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.