ARCA biopharma, Inc.

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Ademi LLP is investigating ARCA (NASDAQ: ABIO) for possible breaches of fiduciary duty and other violations of law in its transaction with Oruka.

In the transaction, ARCA stockholders will own approximately 2.38% and Oruka stockholders will own approximately 97.62% of the combined company. Certain stockholders of ARCA holding approximately 28.5% of the outstanding shares of ARCA common stock have entered into support agreements with ARCA and Oruka to vote all of their shares of ARCA common stock in favor of the transaction and against any alternative acquisition proposals. ARCA insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of ARCA’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.