The Ademi Firm is investigating scPharmaceuticals (NYSE: SCPH) for possible breaches of fiduciary duty and other violations of law in its transaction with MannKind.
Shareholders of scPharmaceuticals will receive $5.35 per share in cash plus contingent value rights worth up to $1.00 per share. scPharmaceuticals insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for scPharmaceuticals by imposing a significant penalty if scPharmaceuticals accepts a competing bid. We are investigating the conduct of the scPharmaceuticals board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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