Peak Bio Inc.

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Ademi LLP is investigating Peak Bio (OTC: PKBO) for possible breaches of fiduciary duty and other violations of law in its transaction with Akari.

In the transaction, Peak Bio shareholders will receive only Peak Bio stockholders will receive a number of Akari ordinary shares (represented by American Depositary Shares) for each share of Peak stock they own, as determined on the basis of the exchange ratio described in the agreement.  The transaction agreement unreasonably limits competing transactions for Peak Bio by imposing a significant penalty if Peak Bio accepts a competing bid. Peak Bio insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Peak Bio’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.