Ademi LLP is investigating Simulations Plus (NASDAQ: SLP) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Altaris.
Simulations Plus shareholders will receive $18.50 per share in an all-cash transaction valued at approximately $375 million. Simulations Plus insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Simulations Plus by imposing a significant penalty if Simulations Plus accepts a competing bid. We are investigating the conduct of the Simulations Plus board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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