(MENAFN- PR Newswire)
NEW YORK, Feb. 7, 2022 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Spirit Airlines, Inc. ('Spirit Airlines' or the 'Company') (NYSE: SAVE ), in connection with the proposed merger of the Company with Frontier Group Holdings, Inc. ('Frontier') (NASDAQ: ULCC ). Under the terms of the merger agreement, the Company's shareholders will receive 1.9126 shares of Frontier plus $2.13 in cash for each share of Spirit Airlines common stock that they hold, representing implied per-share merger consideration of approximately $26.65 based upon Frontier's February 7, 2022 closing price of $12.82. Upon completion of the transaction, Frontier shareholders will own approximately 51.5% of the combined company, while Spirit Airlines shareholders will own 48.5% of the combined company.
If you own Spirit Airlines 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. WeissLaw LLP305 Broadway, 7th FloorNew York, NY 10007 (212) 682-3025 (888) 593-4771[email protected]
WeissLaw LLP is investigating whether: (i) Spirit Airlines' 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 Spirit Airlines' shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. Notably, at least one analyst set a price target for the Company of $43 per share, $16.36 above the per-share merger consideration.
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]
SOURCE WeissLaw LLP
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