RMG Acquisition Corporation II [NASDAQ: RMGB] stock went on an upward path that rose over 4.83% on Wednesday, amounting to a one-week price decrease of less than -0.59%. The company report on February 25, 2021 that SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of RMG Acquisition Corporation II (NASDAQ:RMGB).
Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of RMG Acquisition Corporation II (“RMG II” or the “Company”) (NASDAQ:RMGB) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which RMG II, a special purpose acquisition company, will combine with ReNew Power Private Limited (“ReNew”), India’s leading pure-play renewable energy producer, and result in ReNew becoming a publicly-listed company. Under the terms of the agreement, RMG II shareholders will retain ownership of only 8.1% of the combined company.
The investigation concerns whether the RMG II Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
The market cap for the stock reached $404.34 million, with 34.50 million shares outstanding. Compared to the average trading volume of 529.32K shares, RMGB stock reached a trading volume of 16877264 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on RMG Acquisition Corporation II [RMGB]:
The Average True Range (ATR) for RMG Acquisition Corporation II is set at 0.81
RMGB Stock Performance Analysis:
RMG Acquisition Corporation II [RMGB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.59.