SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Investors of an Investigation Regarding Whether the Merger of Turning Point Brands, Inc. with its Controlling Shareholder is Fair to TPB Shareholders

October 16, 2020 3:52 PM EDT | Source: Levi & Korsinsky, LLP

New York, New York--(Newsfile Corp. - October 16, 2020) - The following statement is being issued by Levi & Korsinsky, LLP:

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7091/66196_12325ed2840598e9_001full.jpg

To: All Persons or Entities who purchased Turning Point Brands, Inc. ("Turning Point" or the "Company") (NYSE: TPB) stock prior to April 8, 2020 through the present.

You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger of Turning Point with its controlling stockholder, Standard Diversified Inc. ("SDI") (NYSE: SDI). Under the terms of the agreement, SDI will be merged into a wholly-owned subsidiary of Turning Point in a tax-free downstream merger. In return for their SDI shares, the holders of SDI's Class A Common Stock and SDI's Class B Common Stock will receive, in the aggregate, Turning Point Voting Common Stock at a ratio of 0.97 of a share of Turning Point Voting Common Stock for each share of Turning Point Voting Common Stock held by SDI. To learn more about the action and your rights, go to:

https://www.zlk.com/mna2/turning-point-brands-inc-loss-form

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.

The Turning Point merger investigation concerns whether the Board of Turning Point breached their fiduciary duties to stockholders by agreeing to enter into this transaction with the Company's controlling stockholder and whether the merger undervalues Turning Point relative to SDI, thereby harming Turning Point shareholders.

Levi & Korsinsky is a nationally recognized firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66196

info