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BFA Law is investigating Reservoir Media, Inc.'s Board in connection with the $10.50 Take Private Deal with Wesbild, Inc. and ER Reservoir LLC.
NEW YORK, March 10, 2026 /PRNewswire/ -- Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into Reservoir Media, Inc.'s (NASDAQ:RSVR) board of directors as well as significant shareholders Wesbild, Inc. and ER Reservoir LLC for potential breaches of their fiduciary duties to shareholders in connection with a potential take-private sale of Reservoir Media that would cash out every minority stockholder for $10.50 per share.
If you are a current shareholder of Reservoir Media, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/reservoir-media-investigation.
Why is Reservoir Media, Inc. being Investigated?
On March 4, 2026, ER Reservoir LLC and Wesbild Inc. announced in SEC filings that they had submitted a preliminary non-binding proposal to acquire all shares of Reservoir Media stock that they did not already own at a price of $10.50 per share.
As of Reservoir Media's latest annual reports, ER Reservoir LLC and Wesbild Inc. owned 44% and 21% of Reservoir Media's stock, respectively. Combined, they own 65% of the company's stock and would be able to unilaterally dictate the outcome of stockholder votes requiring majority approval.
BFA Law is investigating whether the proposed $10.50 per share price represents an unfairly low price, and whether Reservoir Media's board of directors, as well as ER Reservoir LLC and Wesbild Inc. (as controlling stockholders) would be breaching their fiduciary duties to the company's minority stockholders in connection with the potential transaction.
Click here for more information: https://www.bfalaw.com/cases/reservoir-media-investigation
What Can You Do?
If you are a current holder of Reservoir Media stock, you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting: https://www.bfalaw.com/cases/reservoir-media-investigation.
Why Bleichmar Fonti & Auld LLP?
BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named "Elite Trial Lawyers" by the National Law Journal, "Litigation Stars" by Benchmark Litigation, among the top "500 Leading Plaintiff Financial Lawyers" by Lawdragon, "Titans of the Plaintiffs' Bar" by Law360 and "SuperLawyers" by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
Attorney advertising. Past results do not guarantee future outcomes.
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SOURCE Bleichmar Fonti & Auld LLP
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