The Ademi Firm is investigating SpringWorks (Nasdaq: SWTX) for possible breaches of fiduciary duty and other violations of law in its transaction with Merck.
In the transaction, shareholders of SpringWorks will receive only $47 per share in cash represents an equity value of approximately $3.9 billion.
SpringWorks insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for SpringWorks by imposing a significant penalty if SpringWorks accepts a competing bid. We are investigating the conduct of the SpringWorks board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.