NEW YORK, Nov. 3, 2020 /PRNewswire/ —
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Alberton Acquisition Corporation (“ALAC” or the “Company”) (NASDAQ: ALAC) in connection with the Company’s proposed merger with SolarMax Technology, Inc. (“SolarMax”), a privately-held integrated solar energy company. Under the terms of the merger agreement, ALAC will acquire SolarMax through a reverse merger, with SolarMax continuing as a publicly-traded company listed on the NASDAQ. SolarMax stockholders will receive newly issued ALAC shares worth $300 million, and ALAC stockholders are expected to retain control of a meager 17.23% of the newly-combined entity.
If you own ALAC 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 ALAC’s board acted in the best interest of the Company’s public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of SolarMax, whether the deal’s equity split is fair to ALAC shareholders, and whether all information regarding the valuation of the transaction will be fully and fairly disclosed.
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