Cases
NTN Buzztime, Inc.
Merger
Overview
Overview
- Date:
- 8/18/2020
- Case Caption:
- Haas v. NTN Buzztime, Inc., et al.
- Stock Symbol:
- NTN
- Company Name - Buyer:
- Brooklyn ImmunoTherapeutics LLC
- Status:
- Filed
- Merger Announcement Date:
- 8/13/2020
- Filing Date:
- 10/29/2020
- Court:
- U.S. District Court: District of Southern California
NEW YORK, August 18, 2020 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of NTN Buzztime, Inc. (NYSE: NTN) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Brooklyn ImmunoTherapeutics LLC.
On August 13, 2020, NTN Buzztime announced that it had signed an agreement to be acquired by Brooklyn ImmunoTherapeutics. At the close of the merger, members of Brooklyn ImmunoTherapeutics will collectively own approximately 94.08% of the new company, while former shareholders of NTN Buzztime will own approximately 5.92% of the new company. The deal is scheduled to close in the fourth quarter of 2020.
Bragar Eagel & Squire is concerned that NTN Buzztime’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for NTN Buzztime’s stockholders.
On August 13, 2020, NTN Buzztime announced that it had signed an agreement to be acquired by Brooklyn ImmunoTherapeutics. At the close of the merger, members of Brooklyn ImmunoTherapeutics will collectively own approximately 94.08% of the new company, while former shareholders of NTN Buzztime will own approximately 5.92% of the new company. The deal is scheduled to close in the fourth quarter of 2020.
Bragar Eagel & Squire is concerned that NTN Buzztime’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for NTN Buzztime’s stockholders.
Case Updates
Case Files
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Haas v. NTN Buzztime, Inc., et al.