Provention Bio, Inc.

Practice Area: 
Stock Symbol: 
Case Status: 

Ademi LLP is investigating Provention Bio (Nasdaq: PRVB) for possible breaches of fiduciary duty and other violations of law in its transaction with Sanofi.

Ademi LLP alleges Provention Bio’s financial outlook and prospects are excellent and yet Provention Bio shareholders are expected to receive only $25.00 per share in cash, representing an equity value of approximately $2.9 billion. The transaction agreement unreasonably limits competing bids for Provention Bio by imposing a significant penalty if Provention Bio accepts a superior bid. Provention Bio insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Provention Bio’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 Provention Bio.