Ademi LLP is investigating Catalyst (NASDAQ: CPRX) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Angelini Pharma.
Catalyst stockholders will receive $31.50 per share in cash, valuing the transaction at approximately $4.1 billion. Catalyst insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Catalyst by imposing a significant penalty if Catalyst accepts a competing bid. We are investigating the conduct of the Catalyst board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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