Ademi LLP is investigating Soleno (NASDAQ: SLNO) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Neurocrine.
In the transaction, Soleno and its shareholders will receive $53.00 per share, representing a total transaction equity value of $2.9 billion.
The transaction agreement unreasonably limits competing transactions by imposing significant penalties if the parties accept competing bids. We are investigating the conduct of the Soleno board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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