Halper Sadeh LLC announced on April 14 that it is investigating Kezar Life Sciences, Equitable Holdings, and Urgent.ly for possible violations of federal securities laws or breaches of fiduciary duties to shareholders in connection with recent merger and acquisition proposals.
The investigation addresses whether the proposed transactions are fair to shareholders and if insiders could receive financial benefits not available to other investors. The law firm said it may seek increased consideration, additional disclosures, or other relief on behalf of shareholders.
Kezar Life Sciences is subject to review regarding its planned sale to Aurinia Pharmaceuticals for $6.955 per share in cash plus a non-transferable contingent value right. Equitable Holdings’ merger with Corebridge Financial will see each outstanding share exchanged for 1.55516 shares of the combined company’s stock; after closing, Equitable shareholders would own about 49% of the new entity. Urgent.ly’s sale to Agero is also under scrutiny following an agreement at $5.50 per share.
“Insiders may stand to receive substantial financial benefits not available to ordinary shareholders,” Halper Sadeh LLC said in its statement. The firm added that “the proposed transactions may contain terms that could limit superior competing offers.” Shareholders were encouraged by Halper Sadeh LLC to contact them without cost or obligation: “We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.”
The press release was distributed via PR Newswire, which operates in more than 170 countries and supports over 40 languages according to the official website. PR Newswire provides global reach through its network of newsrooms and influencers as detailed on its website, collaborates with over 500,000 media outlets worldwide according to the official website, and offers services such as AI-enhanced content tools and social sharing features as outlined online.
Halper Sadeh LLC stated it represents investors globally who have experienced securities fraud or corporate misconduct: “Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.”
