BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: Alexander & Baldwin, Inc. (NYSE – ALEX), United Security Bancshares (Nasdaq – UBFO), Udemy, Inc. (Nasdaq – UDMY), Mersana Therapeutics, Inc. (Nasdaq – MRSN)

BALA CYNWYD, Pa., Dec. 23, 2025 (GLOBE NEWSWIRE) — Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky ([email protected]) or Marc Ackerman ([email protected]) at 855-576-4847. There is no cost or financial obligation to you.

Alexander & Baldwin, Inc. (NYSE – ALEX)

Under the terms of the Merger Agreement, A&B will be acquired by MW Group and funds affiliated with Blackstone Real Estate and DivcoWest (collectively, the “Investor Group”) for $21.20 per share in an all-cash transaction with an enterprise value of approximately $2.3 billion, including outstanding debt. The investigation concerns whether the A&B Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration provides fair value to the Company’s shareholders.

Additional information can be found at https://www.brodskysmith.com/cases/alexander-baldwin-inc-nyse-alex/.

Udemy, Inc. (Nasdaq – UDMY)

Under the terms of the agreement, Udemy will be acquired by Coursera, Inc. (NYSE – COUR) in an all-stock transaction. Udemy shareholders will receive 0.800 shares of Coursera common stock for each share of Udemy common stock they own. Upon the closing of the transaction, existing Coursera stockholders are expected to own approximately 59% and existing Udemy stockholders are expected to own approximately 41% of the combined company, on a fully diluted basis. The investigation concerns whether the Udemy Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration provides fair value to the Company’s shareholders.

Additional information can be found at https://www.brodskysmith.com/cases/udemy-inc-nasdaq-udmy/.

United Security Bancshares (Nasdaq – UBFO)

Under the terms of the Merger Agreement, United Security will be acquired by Community West Bancshares (Nasdaq – CWBC) in an all-stock merger transaction. United Security shareholders will be entitled to receive 0.4520 shares of Community West Bancshares common stock for each share of United Security common stock. Based upon Community West Bancshares’ closing share price of $24.06 on December 16, 2025, the transaction is valued at approximately $191.9 million, or $10.88 per United Security Bancshares common share. The investigation concerns whether the United Security Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration provides fair value to the Company’s shareholders.

Additional information can be found at https://www.brodskysmith.com/cases/united-security-bancshares-nasdaq-ubfo/.

Mersana Therapeutics, Inc. (Nasdaq – MRSN)

Under the terms of the agreement, Mersana will be acquired by Day One Biopharmaceuticals, Inc. (Nasdaq – DAWN) for $25 per share in cash at closing plus one non-tradable CVR per share to receive certain potential milestone payments of up to an aggregate of $30.25 per CVR in cash, for total consideration of up to $55.25 per share in cash, representing a total equity value of approximately $129 million at closing and representing a total deal value of up to approximately $285 million. The investigation concerns whether the Mersana Therapeutics Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration provides fair value to the Company’s shareholders.

Additional information can be found at https://www.brodskysmith.com/cases/mersana-therapeutics-inc-nasdaq-mrsn/.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.