BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: Surgery Partners, Inc. (Nasdaq – SGRY), Range Resources Corporation (NYSE – RRC), American Oncology Network, Inc. (OTCQX – AONC), Utz Brands, Inc. (NYSE – UTZ)

Brodsky & Smith said it is conducting investigations and invited investors who own shares to contact the firm to discuss them. The notice names no companies, alleged conduct, or investigation details.

Analysis

This is an investor-solicitation notice, not evidence of a new liability, regulatory finding, or transaction disruption. With no investigated companies or underlying events identified, there is no defensible issuer-level earnings, valuation, or spread implication. The key risk is mistaking the announcement of an investigation for proof of wrongdoing; any market effect is likely limited unless it develops into a filed complaint, injunction request, or threat to a material transaction. Over the next 1–3 months, verify the targets and alleged conduct before assessing exposure. A deal-related case could affect timing or consideration, while a stand-alone inquiry may remain immaterial. No sector-wide read-through is supported.

Key Decisions for Investors

• No trade on this notice alone; the targets, claims, and affected transactions are unspecified.
• Identify the companies and underlying events before updating positions; distinguish an inquiry from a filed action and from a court order.
• If a held security is later identified, assess materiality against transaction value, deal protections, and any disclosed legal contingencies; monitor for a complaint, injunction request, or revised closing timeline.
• Falsify any emerging bearish thesis if no formal action or transaction delay follows and the company maintains its disclosed timetable.