The Ademi Firm is investigating Inozyme (Nasdaq: INZY) for possible breaches of fiduciary duty and other violations of law in its transaction with BioMarin.
In the transaction, shareholders of Inozyme will receive $4.00 per share in an all-cash transaction for a total consideration of approximately $270 million. Inozyme insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Inozyme by imposing a significant penalty if Inozyme accepts a competing bid. We are investigating the conduct of the Inozyme board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.