The Ademi Firm is investigating CARGO (NASDAQ: CRGX) for possible breaches of fiduciary duty and other violations of law in its transaction with Concentra Biosciences.
In the transaction, shareholders of CARGO will receive $4.379 in cash per share, plus one non-transferable contingent value right, which represents the right to receive: (i) 100% of the closing net cash of CARGO in excess of $217.5 million; and (ii) 80% of any net proceeds received within two years following closing from any disposition of certain of CARGO’s product candidates that occurs within two years following closing.
CARGO insiders will receive substantial benefits as part of change of control arrangements.
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