Law firm Monteverde & Associates said it is investigating Acamar Partners Acquisition Corp. relating to its proposed merger with CarLotz, Inc. Under the terms of the agreement, ACAM shareholders would retain ownership of only 27% of the combined company.
“The investigation focuses on whether Acamar Partners Acquisition Corp. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the company by 1) failing to conduct a fair process, and 2) whether and by how much this proposed transaction undervalues the company,” the law firm said in a press release. Read more.
