NEW YORK, Sept. 30, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Garrison Capital Inc. (“GARS” or the “Company”) (NASDAQ: GARS) in connection with the proposed merger of the Company with Portman Ridge Finance Corporation (“PTMN”) (NASDAQ: PTMN). Under the terms of the acquisition agreement, the Company’s shareholders will receive a combination of cash and stock as follows: (i) $1.19 in cash for each GARS share held; (ii) an additional cash payment from PTMN’s external adviser of approximately $0.31 for each GARS share held; and (iii) a number of PTMN shares to be determined by dividing GARS’ net asset value per share by PTMN’s net asset value per share, excluding the aggregate cash merger consideration from each company’s net asset value calculation.
If you own GARS shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether GARS’ board acted in the best interest of the Company’s public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of PTMN, and whether all information regarding the valuation of the transaction is fully and fairly disclosed to GARS’ public shareholders.
WeissLaw LLP 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 [email protected]
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SOURCE WeissLaw LLP