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press release

Feb. 23, 2022, 12:44 p.m. EST

BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: Tenneco Inc. (NYSE - TEN), Tower Semiconductor (Nasdaq - TSEM), Preferred Apartment Communities, Inc. (NYSE - APTS), Peak Bancorp, Inc. (OTC - IDFB)

BALA CYNWYD, Pa., Feb 23, 2022 (GLOBE NEWSWIRE via COMTEX) -- BALA CYNWYD, Pa., Feb. 23, 2022 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky or Marc Ackerman at 855-576-4847. There is no cost or financial obligation to you.

Tenneco Inc. (NYSE - TEN)

Tenneco will be acquired by affiliates of Apollo (NYSE - APO) for $20.00 per share in an all-cash transaction with an enterprise valuation of approximately $7.1 billion. The investigation concerns whether the Tenneco Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Apollo Funds is paying too little for the Company. For example, the deal consideration is below the 52-week high of $22.75 for the Company's shares.

Additional information can be found at https://www.brodskysmith.com/cases/tenneco-inc-nyse-ten/ .

Tower Semiconductor (Nasdaq - TSEM)

Tower will be acquired by Intel Corporation (Nasdaq - INTC). Tower shareholders will receive $53.00 in cash for each share of Tower stock they hold. The investigation concerns whether the Tower Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Intel is paying too little for the Company.

Additional information: https://www.brodskysmith.com/cases/tower-semiconductor-nasdaq-tsem/ .

Preferred Apartment Communities, Inc. (NYSE - APTS)

Preferred Apartment Communities, Inc. ("PAC") will be acquired by Blackstone Real Estate Income Trust, Inc. ("BREIT") for $25.00 per share in an all-cash transaction valued at approximately $5.8 billion. The investigation concerns whether the PAC Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether BREIT is paying too little for the Company.

Additional information: https://www.brodskysmith.com/cases/preferred-apartment-communities-inc-nyse-apts/ .

Peak Bancorp, Inc. (OTC - IDFB)

Peak Bancorp will be acquired by BAWAG Group. Peak Bancorp shareholders will receive $12.05 per share of Peak Bancorp common stock they own. The investigation concerns whether the Peak Bancorp Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether BAWAG is paying too little for the Company.

Additional information: https://www.brodskysmith.com/cases/peak-bancorp-inc-otc-idfb/

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. Attorney advertising. Prior results do not guarantee a similar outcome.

COMTEX_402933401/2471/2022-02-23T12:44:06

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