We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Enterprise Diversified, Inc. (“ENDI” or the “Company”) (OTC: SYTE), in connection with the proposed merger with CrossingBridge Advisors, LLC(“CrossingBridge”). At closing, both ENDI and CrossingBridge will become wholly owned subsidiaries of a newly formed holding company, ENDI Corp., ("ENDI Corp."). Under the terms of the merger agreement, the outstandingsecurities of each of ENDI and CrossingBridge will be exchanged for common stock of ENDI Corp. Immediately upon consummation of the merger, ENDI stockholders will own 52.5% of the outstanding common stock of ENDI Corp. CrossingBridge's parent company, Cohanzick Management, LLC ("Cohanzick"), will receive in the merger Endi Corp. Class A and Class B common stock, which will result in Cohanzick having approximately 61.3% voting interest in ENDI Corp.
WeissLaw LLP is investigating whether (i) ENDI’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates ENDI’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.