NEW YORK, Jan. 12, 2021 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of ArcLight Clean Transition Corp. («ACTC» or the «Company») (NASDAQ: ACTC) in connection with the Company’s proposed merger with Proterra Inc («Proterra»), a privately-held leader in commercial vehicle electrification technology. Under the terms of the merger agreement, ACTC will acquire Proterra through a reverse merger that will result in Proterra becoming a public company traded on the NASDAQ. The transaction represents an enterprise value for Proterra of approximately $1.6 billion.
If you own ACTC 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 LLP is investigating whether ACTC’s board acted in the best interest of ACTC’s public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of Proterra, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to ACTC public 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