Kaskela Law LLC is investigating Sterling Check Corp. (NASDAQ: STER) (“Sterling”) on behalf of the company’s investors.

On February 29, 2024, Sterling announced that it had agreed to be acquired by First Advantage Corp. (“First Advantage”).  Under the terms of the proposed agreement, Sterling stockholders are expected to receive either: (i) $16.73 per share in cash or (ii) 0.979 shares of First Advantage common stock for each Sterling share they own.

Although the press release disclosing the proposed transaction reported that “[t]he $16.73 per share consideration represents a premium of 35% to Sterling’s closing price of $12.42 on February 28, 2024,” the $16.73 per share consideration is also significantly lower than the $25.00 per share price that Sterling’s shares traded at less than two years ago.

The investigation seeks to determine whether Sterling investors are expected to receive adequate consideration for their shares, and whether Sterling’s officers and/or directors breached their fiduciary duties or violated the securities laws in agreeing to sell the company to First Advantage.

Sterling shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750 or (888) 715 – 1740, or by completing the form on this page, to receive additional information about this investigation and their legal rights and options.