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

Globe Newswire 3-Feb-2023 9:30 AM

PHILADELPHIA, Feb. 03, 2023 (GLOBE NEWSWIRE) -- Barrack, Rodos & Bacine is continuing its investigation of Acacia Research Corporation (NASDAQ:ACTG) based on issues arising from its recapitalization agreement with Starboard Value LP, entered into on October 30, 2022, which was stated to include a rights offering to existing shareholders to purchase additional shares of Acacia common stock to be launched on January 15, 2023, but which has been delayed for more than two weeks now without explanation; the claimed "resignation" of Acacia's former CEO on November 2, 2022, which its former CEO is currently disputing in Court; the resignation of its former CFO on January 3, 2023; and certain other actions that appear to be more favorable to Starboard and unfavorable to Acacia's public shareholders.

The investigation primarily concerns whether the recapitalization, the former CEO's removal, and the CFO's resignation 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.