Ademi LLP Investigating Equitable Holdings Merger

Law firm probing whether public shareholders are getting a fair price in $22 billion deal with Corebridge.

Apr. 7, 2026 at 11:36am

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An abstract studio still life featuring a stack of financial documents, a pen, and a calculator arranged elegantly on a clean, white background, conveying the conceptual themes of corporate strategy and financial risk.A legal investigation into the proposed $22 billion Equitable-Corebridge merger raises questions about whether public shareholders are receiving fair value.Today in Milwaukee

Ademi LLP, a Milwaukee-based law firm, has launched an investigation into the proposed $22 billion merger between Equitable Holdings Inc. (NYSE: EQH) and Corebridge. The investigation is focused on whether Equitable's board of directors is fulfilling its fiduciary duties to all shareholders and obtaining a fair price in the all-stock transaction, which would see Corebridge shareholders own approximately 51% of the combined company.

Why it matters

Mergers and acquisitions of public companies often raise concerns about whether shareholders are being treated fairly, especially when insiders are set to receive substantial benefits. Ademi's investigation could uncover potential breaches of fiduciary duty or other legal issues that impact the final terms of the deal.

The details

Under the merger agreement, Equitable stockholders will receive 1.55516 shares of the new parent company. Based on closing stock prices as of March 25, 2026, the transaction is valued at approximately $22 billion. Equitable's board has also agreed to limitations on competing bids that could result in a significant penalty if the company accepts a higher offer.

  • The merger agreement was announced on April 7, 2026.
  • Closing stock prices used to value the deal were as of March 25, 2026.

The players

Ademi LLP

A Milwaukee-based law firm that specializes in shareholder litigation involving buyouts, mergers, and individual shareholder rights.

Equitable Holdings Inc.

A publicly traded financial services company that provides life insurance, annuity, and investment products.

Corebridge

A financial services company that is set to acquire Equitable Holdings in an all-stock merger valued at approximately $22 billion.

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What they’re saying

“We are investigating the conduct of the Equitable board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.”

— Ademi LLP

What’s next

Ademi LLP is encouraging Equitable shareholders to contact the firm to learn more about the investigation and how to potentially join the legal action.

The takeaway

This case highlights the ongoing scrutiny of mergers and acquisitions involving public companies, as shareholders seek to ensure they are receiving fair value. Ademi's investigation could lead to changes in the final terms of the Equitable-Corebridge deal or potentially uncover breaches of fiduciary duty by Equitable's board.