BALA CYNWYD, PA / ACCESSWIRE / November 30, 2020 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Northern Genesis Acquisition Corp. (NYSE:NGA) (“Northern Genesis” or the “Company”) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which Northern Genesis, a special purpose acquisition company, will combine with The Lion Electric Company (“Lion”), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, and result in Lion becoming a publicly-listed company. Under the terms of the agreement, Northern Genesis shareholders will retain ownership of only 20.5% of the combined company.
The investigation concerns whether the Northern Genesis Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
If you own shares of Northern Genesis stock and wish to discuss the legal ramifications of the investigation or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC, who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/northern-genesis-acquisition-corp-nyse-nga/, or call toll free 877-534-2590.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC