SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Steel Connect, Inc. (Nasdaq – STCN)

BALA CYNWYD – June 13, 2022 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Steel Connect, Inc. (“Steel Connect” or the “Company”) (Nasdaq – STCN) 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 Steel Partners Holdings L.P. (“Steel Partners”) (NYSE – SPLP). Under the terms of the Transaction, holders of Steel Connect’s outstanding shares of common stock will receive $1.35 per share in cash and one contingent value right (“CVR”) to receive their pro rata share of net proceeds, to the extent such net proceeds exceed $80 million plus certain related costs and expenses, if Steel Connect’s ModusLink subsidiary is sold during the two-year period following completion of the merger.

The investigation concerns whether the Steel Connect Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether the deal is fair to Steel Connect shareholders.

If you own shares of Steel Connect 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.