Ademi LLP is investigating Assertio (NASDAQ: ASRT) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Zydus.
Assertio stockholders will receive $23.50 per share in cash, representing total consideration of approximately $166.4 million. Assertio insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Assertio by imposing a significant penalty if Assertio accepts a competing bid. We are investigating the conduct of the Assertio board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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