UNIVERSAL SECURITY INSTRUMENTS ALERT: Bragar Eagel & Squire, P.C. Investigates Merger of UUU and Encourages Investors to Contact the Firm
NEW YORK, March 01, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Universal Security Instruments, Inc. (NYSE: UUU) (“USI”) breached their fiduciary duties or violated the federal securities laws in connection with the company’s merger with Infinite Reality, Inc.
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On February 25, 2022, USI announced that it had entered into an agreement to merge with Infinite Reality. Pursuant to the merger agreement, following the closing of the merger, Infinite Reality stockholders will hold approximately 97% of USI’s outstanding common stock and the stockholders of USI prior to the merger will retain ownership of approximately 3% of USI’s outstanding shares. The deal is scheduled to close in the second quarter of 2022.
Bragar Eagel & Squire is concerned that USI’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 USI’s stockholders.
If you own shares of USI and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at [email protected] or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
Alexandra Raymond, Esq.
[email protected]
www.bespc.com
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