IVERIC bio, Inc.

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Ademi LLP is investigating IVERIC (NASDAQ: ISEE) for possible breaches of fiduciary duty and other violations of law in its transaction with Astellas.

IVERIC’s shareholders are expected to receive only $40.00 per share in cash for a total equity value of approximately $5.9 billion. The transaction agreement unreasonably limits competing bids for IVERIC by imposing a significant penalty if IVERIC accepts a superior bid. IVERIC insiders will receive substantial benefits as part of change of control arrangements.

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