Barrack, Rodos & Bacine Continues Its Investigation of Acacia Research Corp. (NASDAQ: ACTG) For Potential Investor Claims

Rhea-AI Summary

Barrack, Rodos & Bacine is investigating Acacia Research Corporation over concerns related to its recapitalization agreement with Starboard Value LP from October 30, 2022. The investigation focuses on the former CEO's resignation shortly after the agreement and subsequent actions that may benefit Starboard at the expense of public shareholders. Legal compliance under Delaware law is under scrutiny. Shareholders are encouraged to contact the firm for more details about their legal rights. Barrack, Rodos & Bacine has a strong track record in securities law, with significant recoveries for investors in major cases.

Positive

• The investigation by Barrack, Rodos & Bacine could lead to potential recoveries for affected investors.
• Barrack, Rodos & Bacine has a long history of successful securities law actions, providing confidence to investors.

Negative

• The recapitalization agreement may favor Starboard Value LP over Acacia's public shareholders.
• The resignation of the former CEO raises concerns about corporate governance and management stability.

PHILADELPHIA, PA / ACCESSWIRE / January 17, 2023 / Barrack, Rodos & Bacine is continuing its investigation of Acacia Research Corporation based on issues arising from its recapitalization agreement with Starboard Value LP, entered into on October 30, 2022; the claimed "resignation" two days later of Acacia's former CEO; and certain actions taken since that time that appear to be even more favorable to Starboard and unfavorable to Acacia's public shareholders.

The investigation primarily concerns whether the recapitalization, the former CEO's removal, and actions taken since that time comply with Delaware law, which is Acacia's state of incorporation.

If you are an Acacia shareholder, you are encouraged to contact Mark Stein or Linda Border at Barrack, Rodos & Bacine, at the toll-free number 877-386-3304, or via email at mstein@barrack.com or lborder@barrack.com, to learn more about the firm's investigation and your legal rights and options.

Philadelphia-based Barrack, Rodos & Bacine has more than four decades of experience prosecuting securities law class actions and other corporate governance actions, including cases involving insider dealing, and has achieved some of the largest recoveries in the history of securities litigation in the U.S. The firm's largest recoveries on behalf of investors include $6.19 billion for WorldCom investors, $3.32 billion for Cendant investors, $1.05 billion for McKesson investors, and $970.5 million for AIG investors.

To read about Barrack, Rodos & Bacine's investigation into Acacia Research, or to find out more about the firm, please see the firm's webpage devoted to this matter.

SOURCE: Barrack, Rodos & Bacine

View source version on accesswire.com:
https://www.accesswire.com/735319/Barrack-Rodos-Bacine-Continues-Its-Investigation-of-Acacia-Research-Corp-NASDAQ-ACTG-For-Potential-Investor-Claims

FAQ

What is Barrack, Rodos & Bacine investigating regarding Acacia Research Corporation?

The firm is investigating Acacia Research's recapitalization agreement with Starboard Value LP and the implications of the former CEO's resignation.

How does the investigation impact Acacia Research shareholders?

The investigation may reveal potential legal claims that could benefit shareholders if misconduct is found.

When did the recapitalization agreement with Starboard Value LP take place?

The recapitalization agreement was entered into on October 30, 2022.

Why is the former CEO's resignation significant for Acacia Research?

The resignation shortly after the recapitalization raises questions about corporate governance and potential risks to public shareholders.