Proposed Merger Involving Turning Point Brands, Inc. Investigated by Block & Leviton; Shareholders Should Contact the Firm

BOSTON, April 09, 2020 (GLOBE NEWSWIRE) — Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, has opened an investigation into the proposed merger involving Turning Point Brands, Inc. (NYSE: TPB), whereby Standard Diversified Inc. (“SDI”) will be merged into a wholly-owned subsidiary of TPB.  Block & Leviton is investigating whether members of the TPB Board of Directors breached their fiduciary duties in agreeing to have the Company acquire SDI, its controlling stockholder, and whether the price that TPB agreed to pay for SDI is unfairly high.  TPB shareholders should contact Block & Leviton for a free case evaluation.
Under the terms of the proposed merger, SDI will be merged into a wholly-owned subsidiary of TPB in a tax-free downstream merger.  The proposed merger was first announced by the two companies in November 2019, but today, the companies announced that they have entered into a definitive agreement.  Under the terms of the agreement, the holders of SDI’s Class A Common Stock and SDI’s Class B Common Stock will receive in the aggregate, in return for their SDI shares, TPB Voting Common Stock at a ratio of 0.97 of a share of TPB Voting Common Stock for each share of TPB Voting Common Stock held by SDI.If you are a TPB shareholder and have questions about your legal rights or possess information relevant to this matter, you are encouraged to contact attorney Stephen Teti at (617) 398-5600, by email at [email protected], or by visiting https://shareholder.law/tpb.Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets.  The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States.  The firm’s lawyers have recovered billions of dollars for its clients.This notice may constitute attorney advertising.CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: [email protected]
SOURCE: Block & Leviton LLP
www.blockesq.com 
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