BALA CYNWYD, Pa., Dec. 05, 2022 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
Apollo Endosurgery, Inc. (Nasdaq - APEN)
Under the terms of the agreement, Apollo will be acquired by Boston Scientific Corporation (“Boston Scientific”) (NYSE – BSX). Boston Scientific will acquire all outstanding shares of Apollo for $10.00 per share in cash for an approximate total enterprise value of $615 million. The investigation concerns whether the Apollo Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Boston Scientific is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/apollo-endosurgery-inc-nasdaq-apen/.
Imago BioSciences, Inc. (Nasdaq - IMGO)
Under the terms of the agreement, Imago will be acquired by Merck (NYSE - MRK). Merck will acquire all outstanding shares of Imago for $36.00 per share in cash for an approximate total equity value of $1.35 billion. The investigation concerns whether the Imago Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Merck is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/imago-biosciences-inc-nasdaq-imgo/.
Opiant Pharmaceuticals Inc. (Nasdaq - OPNT)
Under the terms of the agreement, Indivior PLC will acquire all of the outstanding shares of Opiant for upfront consideration of $20.00 per share in cash at closing, plus contingent value rights representing, if achieved, potential additional payments over a period of seven years of up to $8.00 per share. The investigation concerns whether the Opiant Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Indivior PLC is paying too little for the Company. For example, the deal consideration is less than the 52-week high of $37.71 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/opiant-pharmaceuticals-inc-nasdaq-opnt/.
Benefitfocus, Inc. (Nasdaq - BNFT)
Under the terms of the agreement, Benefitfocus will be acquired by Voya Financial, Inc. (“Voya”) (NYSE - VOYA). Voya will pay $10.50 a share in cash for all outstanding shares of Benefitfocus in a deal valued at approximately $570 million. The investigation concerns whether the Benefitfocus Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Voya is paying too little for the Company. For example, the deal consideration is below the 52-week high of $13.06 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/benefitfocus-inc-nasdaq-bnft/.
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