INVESTIGATION ALERT: Scott+Scott Attorneys at Law LLP Investigates Fifth Wall Acquisition Corp. I’s Directors and Officers for Breach of Fiduciary Duties – SMRT, FWAA
NEW YORK--(BUSINESS WIRE)--Jan 4, 2023--
Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is investigating whether certain directors and officers of Fifth Wall Acquisition Corp. I (“Fifth Wall”) (NASDAQ: FWAA); n/k/a SmartRent, Inc. (“SmartRent”) (NYSE: SMRT) breached their fiduciary duties to Fifth Wall’s shareholders. If you were a Fifth Wall shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982, firstname.lastname@example.org.
Scott+Scott is investigating 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 million 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. The stock has continued to decline.
Overall, the stock price has declined by over 75% since the merger, with shares currently trading at $2.43/share.
What You Can Do
If you were a Fifth Wall shareholder, you may have legal claims against Fifth Wall’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982, email@example.com.
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230104005903/en/
CONTACT: Joe Pettigrew
Scott+Scott Attorneys at Law LLP
600 W. Broadway, Suite 3300, San Diego, CA 92101
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL
SOURCE: Scott+Scott Attorneys at Law LLP
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PUB: 01/04/2023 03:02 PM/DISC: 01/04/2023 03:01 PM