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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger of Gores Holdings III, Inc. (“Gores” or the “Company”) (NASDAQ: GRSH) with Platinum Equity portfolio company PAE (“PAE” or the “Company”). Upon closing of the merger, this transaction will introduce PAE as a publicly listed company, and the consideration payable to the stockholders of PAE will consist of a combination of cash and shares of Gores Holdings III common stock.
The Gores merger investigation concerns whether the Board of Gores breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction and whether the merger with PAE undervalues Gores shares, thus unlawfully harming Gores shareholders.
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