Ademi LLP is investigating Forte (Nasdaq: FBRX) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with argenx.
Forte shareholders will receive $77 per share, representing a total equity value of approximately $2.2 billion. Forte insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Forte by imposing a significant penalty if Forte accepts a competing bid. We are investigating the conduct of the Forte board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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