What is the expected timeline for the investigation and any related shareholder actions or disclosures?

Investigation timeline & shareholder‐related steps

Halper Sadeh LLC’s probe of the Horizon‑Monroe merger is a shareholder‑rights investigation, not a regulatory review, so the firm does not have a statutory “deadline” like an SEC‑mandated inquiry. In comparable cases the firm typically reviews the transaction’s fairness, the board’s fiduciary analysis and any related proxy materials within 2‑4 weeks and then prepares a shareholder‑focused brief or a “fair‑share” demand. Expect the first public disclosure of the firm’s findings—or a formal request for additional information—to appear mid‑ to late‑August (≈ 3 weeks after the press release) and, if the firm decides to press for a shareholder vote, a 30‑day notice period would be triggered for any proxy contest or special meeting.

What shareholders should do

1. Watch for SEC filings – Horizon is required to file a Form 8‑K (or a proxy statement) detailing the merger terms and any material “fair‑share” demands. Those filings normally surface within 10‑15 business days after the investigation is announced, so a review of the 8‑K and any accompanying Schedule 13D/13G will be essential.
   
2. Prepare for a possible shareholder vote – If Halper Sadeh escalates to a formal “fair‑share” demand, Horizon will have to issue a supplemental proxy statement and schedule a special meeting. The notice period for a special meeting is at least 10 business days; therefore, a decisive shareholder vote could be slated for early‑to‑mid September.
   
3. Position for volatility – The merger announcement already generated a modest negative sentiment (‑45). The added legal scrutiny typically adds 2‑4 % of short‑term volatility as investors digest the fairness question and any potential amendments to the deal terms. Traders can keep a tight stop‑loss around the current support level (≈ $1.30) and look for a breakout either upward (if the board’s fairness argument holds) or downward (if the firm escalates to a proxy contest).

Bottom line: Expect the investigation’s first public output by mid‑August, with any shareholder‑action filings and a possible special‑meeting notice appearing late August to early September. Until those disclosures surface, the stock will likely trade in a relatively tight range, but a clear catalyst (proxy filing or a “fair‑share” demand) could trigger a short‑term swing—so stay ready to react to the upcoming SEC filings and any special‑meeting announcements.