The Ademi Firm is investigating VYNE (Nasdaq: VYNE) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Yarrow Bioscience.
In the transaction, VYNE shareholders will receive the pre-Merger VYNE stockholders are expected to own approximately 3% of the combined company, and the pre-Merger Yarrow stockholders are expected to own approximately 97% of the combined company. VYNE insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for VYNE by imposing a significant penalty if VYNE accepts a competing bid. We are investigating the conduct of the VYNE board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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