Franchise Group Merger Investigation Form

An investigation has been commenced into the fairness of the sale of Franchise Group, Inc. ("Franchise Group" or the "Company") (NASDAQ: FRG) to Freedom VCM, Inc. ("Freedom"). On May 11, 2023, the Company announced that it had entered into an agreement and plan of merger (the “Merger”) with Freedom, a consortium that includes Franchise Group’s CEO Brian Kahn, B. Riley Financial, and Irradiant Partners. As a result of the Merger, Franchise Group stockholders are anticipated to receive only $30.00 per share in cash in exchange for each share of Franchise Group.

The Franchise Group Merger investigation concerns whether the executives, directors, and controlling stockholders of Franchise Group have harmed stockholders by causing the Company to agree to the Merger, and whether all material facts have been properly disclosed to stockholders.

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