Soko Fitness & Spa Group Inc Shareholder Lawsuit

Soko Fitness is being bought out by Queen Beauty, many of SOKO's officers, including the Company's CEO and CFO, made a deal to tender their shares of SOKO in exchange for ordinary and preferred shares of Queen Beauty. Other shareholders will receive $4.50 in cash per share of SOKO stock they own.

Kyros Law a Boston-based law firm has launched an investigation concerning potential legal claims against the Board of Directors of Soko Fitness and Spa, Inc. (OTC: SOKF).  Specifically, Kyros Law is investigating whether Soko’s Board of Directors breached its fiduciary duty to its shareholders in agreeing to be acquired by its executives in a very complicated transaction whereby Soko shareholders will get $4.50 their Soko shares. 

Kyros Law is investigating the fairness of the proposed transaction to Soko’s shareholders, whether the shareholders are being underpaid for their stock, and whether Soko’s Board of Directors acted in the shareholders' best interests. In particular, given that key executives of the company are purchasing Soko and taking it private, the Kyros Law is evaluating whether Soko’s Board of Directors considered all potential alternatives and obtained the best price for the shareholders.

If you are a shareholder of any amount of SOKO stock please call Attorney Bill Kyros at 1-800-934-2921 to discuss your rights.

Merger Lawsuits (see Our Main Page): In these types of cases even small shareholders may bring claims against officers and directors of a company for violation of fiduciary duties related to these large corporate transactions. The goals of taking legal action are to increase the deal price, require public disclosure of important facts related to the transaction (which helps investors decide whether to approve the deal), improve the actual terms of the deal, and to ensure fairness to all shareholders.

Kyros Law is a Boston-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For info about our law firm please our Kyros Law web site.