GlobeNewswire Inc | Oct 1, 2020 04:04PM EDT

October 01, 2020

NEW YORK, Oct. 01, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Mountain Crest Acquisition Corp. (NASDAQ: MCAC) breached their fiduciary duties or violated the federal securities laws in connection with the companys merger with Playboy Enterprises, Inc.

Clickhereto learn more and participate in the action.

On October 1, 2020, Mountain Crest, a special purpose acquisition company, announced that it had signed an agreement to enter into a business combination that would result in Playboy becoming a publicly listed company. The deal is scheduled to close in the first quarter of 2021.

Bragar Eagel & Squire is concerned that Mountain Crests board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Mountain Crests stockholders.

If you owned shares of Mountain Crest before October 1, 2020 and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email atinvestigations@bespc.comor telephone at (646) 860-9157, or byfilling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:Bragar Eagel & Squire, P.C.Melissa Fortunato, Esq.Alexandra Raymond, Esq.investigations@bespc.comwww.bespc.com