We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Columbia Care Inc. (“Columbia Care” or the “Company”) (OTCQX:CCHWF) in connection with its proposed merger with Cresco Labs (“Cresco”)(OTCQX: CRLBF). Under the terms of the merger agreement, the Company’s shareholders will receive 0.5579 shares of Cresco for each share of Columbia Care common stock owned, representing an implied per-share merger consideration of approximately $3.25 based upon Cresco’s March 24, 2022 closing price of $5.82. Upon completion of the transaction, Cresco shareholders will own approximately 65% and Columbia Care shareholders will own only 35% of the combined company.
Weiss Law is investigating whether: (i) Columbia Care’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 Columbia Care’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.