The Ademi Firm is investigating Dynavax (Nasdaq: DVAX) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Sanofi.
In the transaction, Dynavax shareholders will receive $15.50 per share in cash, valuing Dynavax at approximately $2.2 billion. Dynavax insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Dynavax by imposing a significant penalty if Dynavax accepts a competing bid. We are investigating the conduct of the Dynavax board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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