BALA CYNWYD, Pa., April 22, 2024 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.

Macatawa Bank Corporation (Nasdaq - MCBC)

Under the terms of the agreement, Macatawa will be acquired by Wintrust Financial Corporation (“Wintrust”) (Nasdaq - WTFC) Each share of Macatawa common stock outstanding will be converted into the right to receive merger consideration paid in shares of Wintrust common stock based on Wintrust’s average trading price at closing determined in accordance with the merger agreement. The aggregate purchase price to Macatawa shareholders is currently estimated to be approximately $510.3 million, or $14.85 per share. The investigation concerns whether the Macatawa Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the offer from Wintrust provides fair value to the Company’s shareholders.

Additional information can be found at https://www.brodskysmith.com/cases/macatawa-bank-corporation-nasdaq-mcbc/.

Shockwave Medical, Inc. (Nasdaq – SWAV)

Under the terms of the Merger Agreement, Shockwave will be acquired by Johnson & Johnson (NYSE - JNJ). Johnson & Johnson will acquire all outstanding shares of Shockwave common stock for $335.00 per share in cash, corresponding to an enterprise value of approximately $13.1 billion including cash acquired. The investigation concerns whether the Shockwave Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration offers fair value to the Company’s shareholders.

Additional information can be found at https://www.brodskysmith.com/cases/shockwave-medical-inc-nasdaq-swav/.

Apartment Income REIT Corp. (NYSE - AIRC)

Under the terms of the agreement, AIR Communities will be acquired by Blackstone (NYSE - BX). Under the terms of the transaction, Blackstone Real Estate Partners X will acquire all outstanding shares of AIR Communities common stock for $39.12 per share in cash, implying a transaction value of approximately $10 billion. The investigation concerns whether the AIR Communities Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration offers fair value to the Company’s shareholders.

Additional information can be found at https://www.brodskysmith.com/cases/apartment-income-reit-corp-nyse-airc/.

Model N, Inc. (NYSE – MODN)

Under the terms of the agreement, Model N will be acquired by Vista Equity Partners (“Vista”). Vista will acquire all outstanding shares of Model N common stock for $30.00 per share in cash, implying a transaction value of approximately $1.25 billion. The investigation concerns whether the Model N Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration offers fair value to the Company’s shareholders. For example, the deal consideration is below the 52-week high of $35.96 for the Company’s shares.

Additional information can be found at https://www.brodskysmith.com/cases/model-n-inc-nyse-modn/.
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