NEW YORK, Aug. 24, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Gores Metropoulos Inc. (“Gores Metropoulos” or the “Company”) (NASDAQ: GMHI) in connection with the proposed merger of the Company with privately-held autonomous vehicle and lidar technology company Luminar Technologies, Inc. (“Luminar”) Under the terms of the proposed transaction, Gores Metropoulos will fold into Luminar and cease to exist, resulting in one publicly traded entity. The combined company has an enterprise value of approximately $2.9 billion. The surviving entity will assume the Luminar name and will trade on the Nasdaq under the new ticker symbol “LAZR.”
If you own Gores Metropoulos 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.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether Gores Metropoulos’ board satisfied its fiduciary duties to its shareholders by conducting a fair and diligent process, whether the board was fully informed as to the valuation of Luminar, and whether all information regarding the process leading to the proposed transaction and valuation of the deal will be fully and fairly disclosed to the Company’s shareholders.
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@example.com
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SOURCE WeissLaw LLP