Ademi LLP is investigating Rallybio (Nasdaq: RLY) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Avenzo Therapeutics.
Following closing, Rallybio equityholders are expected to own approximately 2.8% of the combined company, and Avenzo equityholders are expected to own approximately 97.2% of the combined company.
Rallybio insiders will receive substantial benefits as part of change of control arrangements
The transaction agreement unreasonably limits competing transactions for Rallybio by imposing a significant penalty if Rallybio accepts a competing bid. We are investigating the conduct of the Rallybio board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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