The litigation targets alleged material omissions in the company’s March 2025 merger announcement and subsequent proxy materials. According to the complaint, the documentation misrepresented the nature of the transaction, framing it as an arm’s-length strategic review while failing to disclose Executive Chairman Foley’s personal interest in an expedited sale. Furthermore, investors claim the proxy omitted higher-value alternatives identified by Bank of America Securities and mischaracterized the board's approval of downward financial projections.

Those who held shares on the May 9, 2025, record date or participated in the August 26, 2025, merger have until November 10, 2026, to file for lead plaintiff status. While the lawsuit seeks damages for misled shareholders, no class has been formally certified. Investors retain the right to select their own counsel or remain as absent class members without taking immediate action. The Rosen Law Firm is managing the case on a contingency fee basis.