Ademi LLP is investigating SomaLogic (Nasdaq: SLGX) for possible breaches of fiduciary duty and other violations of law in its transaction with Standard BioTools.
In the transaction, SomaLogic stockholders are expected to receive only 1.11 shares of Standard BioTools common stock for each share of SomaLogic common stock owned. The transaction agreement unreasonably limits competing transactions for SomaLogic by imposing a significant penalty if SomaLogic accepts a competing bid. SomaLogic insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of SomaLogic’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.