The inquiry centers on the role of Chairman and CEO Thomas Priore, who is leading the investor group behind the acquisition. Attorneys are examining potential conflicts of interest, specifically regarding change-of-control benefits slated for company insiders. The investigation also scrutinizes the board's negotiation process and whether they sufficiently protected shareholder interests during the deal's approval.

A focal point for the legal team is the inclusion of restrictive terms within the merger agreement. These include a substantial termination penalty that could suppress competing bids, effectively locking out other potential buyers from offering superior proposals. Guri Ademi of Ademi LLP is inviting shareholders to review their rights and the adequacy of the current offer, noting that the firm is evaluating whether the board fulfilled its fiduciary duties to the broader investor base.