SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Embark Technology, Inc. (Nasdaq – EMBK)

BALA CYNWYD – May 30, 2023 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Embark Technology, Inc. (“Embark” or the “Company”) (Nasdaq – EMBK) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s agreement to be acquired by Applied Intuition, Inc. Under the terms of the Agreement, Embark shareholders will receive $2.88 per Common Share in cash, corresponding to an equity value of approximately $71 million.

The investigation concerns whether the Embark Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Applied Intuition is paying too little for the Company. For example, the deal consideration is below the 52-week high of $31.00 for the Company’s shares.

If you own shares of Embark stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, or call toll free 855-576-4847.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.