Ademi LLP is investigating RAPT (NASDAQ: RAPT) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with GSK plc.
In the tender offer transaction, RAPT stockholders can elect to receive $58.00 per share for an estimated aggregate equity value of $2.2 billion. RAPT insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for RAPT by imposing a significant penalty if RAPT accepts a competing bid. We are investigating the conduct of the RAPT board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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