Akouos, Inc.

Practice Area: 
Stock Symbol: 
Case Status: 

Ademi LLP is investigating Akouos (NASDAQ: AKUS) for possible breaches of fiduciary duty and other violations of law in its transaction with Eli Lilly.

Ademi LLP alleges Akouos’ financial outlook and prospects are excellent and yet Akouos holders will receive only $12.50 per share in cash (an aggregate of approximately $487 million) payable at closing plus one non-tradeable contingent value right per share that entitles the holder to receive up to an additional $3.00 in cash, for a total consideration of up to $15.50 per share in cash without interest (an aggregate of up to approximately $610 million). The transaction agreement unreasonably limits competing bids for Akouos by imposing a significant penalty if Akouos accepts a superior bid. Akouos insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Akouos’ board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Akouos.