STER - STER Alert: Monsey Firm of Wohl & Fruchter Investigating Proposed Sale of Sterling Check Corp. to First Advantage Corporation | Benzinga
MONSEY, N.Y., March 06, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the proposed sale of Sterling Check Corp. (NASDAQ:STER) ("Sterling") to First Advantage Corporation ("FAC") for cash and stock valued at approximately $16.73 per share. Under the terms of the transaction, Sterling shareholders can elect to receive either $16.73 per share in cash or 0.979 shares of FAC common stock for each Sterling share, subject to proration.
Certain entities advised by or affiliated with Goldman Sachs & Co. LLC. ("Goldman") presently own approximately 52.8% of Sterling's outstanding shares. Yet, Goldman served as one of Sterling's financial advisors for the deal, which posed a potential conflict.
If you remain a Sterling shareholder and have concerns ...