Entasis Therapeutics Holdings Inc.

Practice Area: 
Stock Symbol: 
Case Status: 

Ademi LLP is investigating Entasis (Nasdaq: ETTX) for possible breaches of fiduciary duty and other violations of law in its transaction with Innoviva.

Ademi LLP alleges Entasis’ financial outlook and prospects are excellent and yet Entasis holders will receive only $2.20 per share in an all-cash transaction. The transaction agreement unreasonably limits competing bids for Entasis by prohibiting solicitation of further bids, and imposing a significant penalty if Entasis accepts a superior bid. Entasis insiders will receive substantial benefits as part of change of control arrangements.

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