Halper Sadeh LLC announced on April 14 that it is investigating potential violations of federal securities laws and possible breaches of fiduciary duties to shareholders regarding the proposed sales of Globalstar, Inc., Apellis Pharmaceuticals, Inc., and Forian Inc.
The law firm said its investigation centers on whether insiders could receive financial benefits not available to ordinary shareholders and if the proposed transactions include terms that might restrict superior competing offers. The firm encouraged shareholders to contact them about their rights at no cost or obligation.
According to Halper Sadeh LLC, Globalstar’s sale involves Amazon.com offering $90.00 in cash or a capped share exchange per Globalstar share. Apellis Pharmaceuticals’ transaction includes a sale to Biogen for $41.00 per share in cash plus contingent value rights based on future drug sales milestones. Forian’s sale is led by Max Wygod, Chairman and CEO, along with other executives and existing shareholders for $2.17 per share in cash.
The law firm said it may seek increased consideration for shareholders as well as additional disclosures or other relief on their behalf. “On behalf of shareholders, Halper Sadeh LLC may seek increased consideration, additional disclosures and information, or other relief and benefits,” the statement said.
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