We are investigating the fairness of the proposed sale of Via Renewables, Inc. (Nasdaq: VIA) (“VIA”) to Retailco, LLC (“Retailco”) for $11.00 per share in cash.
If you remain a VIA shareholder and have concerns about the fairness of the price, you may contact our firm to discuss your legal rights at no charge by completing and submitting the form below.
Why is there an investigation?
On January 2, 2024, VIA announced that it had agreed to be acquired by Retailco for a price of $11.00 per share in cash. The agreement was negotiated on behalf of VIA by a Special Committee of its Board of Directors with the assistance of purportedly independent financial and legal advisors.
Retailco is an entity owned by TxEx Energy Investments, LLC, which is wholly owned by William Keith Maxwell, III (“Maxwell”). Maxwell is VIA’s current Chief Executive Officer and Chairman of the Board and directly and indirectly owns approximately 65.7% of VIA common stock.
“We are investigating whether VIA’s Board acted in the best interests of VIA shareholders in approving the sale,” explained Joshua Fruchter, a partner at Wohl & Fruchter. “This includes whether the members of the Special Committee that recommended the transaction were truly independent of Maxwell, whether the acquisition price adequately compensates VIA shareholders, and whether all material information regarding the transaction has been fully disclosed.”