SHAREHOLDER ALERT: Weiss Law Investigates CarLotz, Inc.
NEW YORK, Aug. 10, 2022 /PRNewswire/ -- Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of CarLotz, Inc. ("CarLotz" or the "Company") (NASDAQ: LOTZ), in connection with the proposed merger of the Company with Shift Technologies, Inc. ("Shift") (NASDAQ: SFT). Under the terms of the merger agreement, Company shareholders will receive 0.692158 shares of Shift common stock for each share of CarLotz common stock, leaving then- current Shift equity holders owning approximately 52.9% and CarLotz then-current equity holders owning approximately 47.1% of the combined company upon closing of the transaction.
If you own CarLotz shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Weiss Law is investigating whether (i) CarLotz's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates CarLotz's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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SOURCE Weiss Law
Company Codes: NASDAQ-NMS:LOTZ, NASDAQ-NMS:SFT
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