The Ademi Firm is investigating ZimVie (NASDAQ: ZIMV) for possible breaches of fiduciary duty and other violations of law in its transaction with ARCHIMED.
In the transaction, shareholders of ZimVie will receive $19.00 per share in cash or approximately $730 million in enterprise value. ZimVie insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for ZimVie by imposing a significant penalty if ZimVie accepts a competing bid. We are investigating the conduct of the ZimVie board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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