The Ademi Firm is investigating Akero (NASDAQ: AKRO) for possible breaches of fiduciary duty and other violations of law in its transaction with Novo Nordisk.
Shareholders of Akero will receive $54.00 per share, representing an equity value of approximately $4.7 billion. Shareholders will also receive a contingent value right entitling them to an additional $6.00 per share if Akero’s drug efruxifermin receives full U.S. regulatory approval for treating compensated cirrhosis due to metabolic dysfunction-associated steatohepatitis by June 30, 2031.
Akero insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Akero by imposing a significant penalty if Akero accepts a competing bid. We are investigating the conduct of the Akero board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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