SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Mountain Crest Acquisition Corp. III (Nasdaq – MCAE)

BALA CYNWYD – February 1, 2022 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Mountain Crest Acquisition Corp. III (“Mountain Crest III” or the “Company”) (Nasdaq – MCAE) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which Mountain Crest III, a special purpose acquisition company, will combine with ETAO International Group (“ETAO”), a digital healthcare group providing telemedicine, hospital care, primary care, pharmacy and health insurance covering all life stages of patients, and result in ETAO becoming a publicly-listed company. Under the terms of the agreement, Mountain Crest III shareholders will retain ownership of less than 12% of the combined company.

The investigation concerns whether the Mountain Crest III Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.

If you own shares of Mountain Crest III 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 877-534-2590.

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.