ACCESSWIRE
26 Jan 2023, 02:31 GMT+10
NEW YORK, NY / ACCESSWIRE / January 25, 2023 / Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Fifth Wall Acquisition Corp. I ('Fifth Wall') (NASDAQ:FWAA), now known as SmartRent, Inc. ('SmartRent') (NYSE:SMRT), breached their fiduciary duties to Fifth Wall's shareholders.
The investigation concerns whether Fifth Wall's board of directors or executive officers breached their duties of disclosure, duties of candor, and requirements to act in good faith, and whether Fifth Wall's shareholders suffered damages as a result.
On August 23, 2021, Fifth Wall shareholders of record as of July 27, 2021 approved a merger between Fifth Wall and SmartRent.
On November 10, 2021, SmartRent announced its third quarter results and revised guidance downward for the remainder of 2021 from $119 million down to a range of $100 to $105 million. The company also reported negative quarterly adjusted EBITDA of $16.1 million and an overall quarterly loss from operations of $26 million.
On this news, the stock dropped below $10 per share, and the stock has declined significantly since the merger.
INVESTORS OF SMARTRENT STOCK WHO HELD FIFTH WALL SHARES ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR SMARTRENT/FIFTH WALL SECURITIES.
SMARTRENT SHAREHOLDERS WHO HELD FIFTH WALL STOCK ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, MYARNOFF@KEHOELAWFIRM.COM, INFO@KEHOELAWFIRM.COM, TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff-side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm, P.C. have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
This press release may constitute attorney advertising.
SOURCE: Kehoe Law Firm, P.C.
Get a daily dose of Nashville Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Nashville Herald.
More InformationMANCHESTER, England: Due to higher commercial revenues and lower wages, English Premier League club Manchester United said this week that ...
EDINBURGH, Scotland: Humza Yousaf, the first Muslim to lead a democratic western European nation, was sworn in as Scotland's new ...
WASHINGTON D.C.: Potentially hampering US efforts to arm Ukraine against Russia's invasion, rebuild local infrastructure and boost production, manufacturers of ...
WASHINGTON D.C.: After a series of high-profile incidents aboard US aircraft, several bipartisan lawmakers will again push for legislation to ...
HANOI, Vietnam: Tensions were again increasing off the coast of Vietnam as Hanoi ordered its navy to shadow a Chinese ...
In Warsaw last February, President Joe Biden condemned the lawless Russian invasion of Ukraine: "The idea that over 100,000 forces ...
LONDON, England: As supply chain disruptions eased and output picked up in domestic and overseas markets, British car production rose ...
BERLIN, Germany: Reuters has reported that despite potentially higher interest rates, Germans are placing fewer deposits abroad, due to fears ...
WASHINGTON D.C.: The US and Japan have signed a trade memo on electric vehicle (EV) battery minerals.US Trade Representative Katherine ...
ST LOUIS, Missouri: The latest in a number of US cities to take action, St. Louis, Missouri, said this week ...
DUBLIN, Ireland: Bank of Ireland has announced that it has raised fixed mortgage rates following a cumulative 3.5 percent rate ...
NEW YORK, New York - U.S. stocks finished the third quarter with a bang on Friday. Despite a volatile start, ...