Neovasc Inc.

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Ademi LLP is investigating Neovasc (Nasdaq: NVCN) for possible breaches of fiduciary duty and other violations of law in its transaction with Shockwave.

Ademi LLP alleges Neovasc’s financial outlook and prospects are excellent and yet Neovasc shareholders will receive only $27.25 per share, corresponding to an enterprise value of approximately $100 million. Neovasc shareholders will also receive a potential deferred payment in the form of a non-tradable contingent value right entitling the holder to receive up to an additional $12 per share in cash if certain regulatory milestones are achieved.. The transaction agreement unreasonably limits competing bids for Neovasc by imposing a significant penalty if Neovasc accepts a superior bid. Neovasc insiders will receive substantial benefits as part of change of control arrangements.