Ademi LLP is investigating Ventyx (NASDAQ: VTYX) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Eli Lilly.
In the transaction, Ventyx stockholders will be entitled to receive $14.00 per share in an all-cash transaction valued at approximately $1.2 billion. Ventyx insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Ventyx by imposing a significant penalty if Ventyx accepts a competing bid. We are investigating the conduct of the Ventyx board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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