The Ademi Firm is investigating Tourmaline (NASDAQ: TRML) for possible breaches of fiduciary duty and other violations of law in its transaction with a Novartis.
Shareholders of Tourmaline will $48.00 per share in cash at closing, or a total equity value of approximately $1.4 billion. Tourmaline insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Tourmaline by imposing a significant penalty if Tourmaline accepts a competing bid. We are investigating the conduct of the Tourmaline board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
Join this Action