Shareholder Alert: Ademi LLP Investigates Whether Lumos Pharma, Inc. Is Obtaining a Fair Price for Its Public Shareholders
MILWAUKEE--(BUSINESS WIRE)--Oct 23, 2024--
Ademi LLP is investigating Lumos Pharma (NASDAQ: LUMO) for possible breaches of fiduciary duty and other violations of law in its transaction with Double Point Ventures .
Click here to learn how to join our investigation or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
In the transaction, Lumos Pharma shareholders will receive only (i) $4.25 per share in cash at closing and (ii) one CVR for each share of common stock outstanding, representing the future right to receive additional contingent cash payments upon the achievement of certain milestone events relating to the level of annual global net revenue of LUM-201 up to the year 2037, different transactions involving Lumos Pharma or its assets that occur within 18 months of closing or certain sales, license or similar revenue-generating agreements entered into within 18 months of closing and that are related to Lumos Pharma’s legacy products other than LUM-201.
The transaction agreement unreasonably limits competing transactions for Lumos Pharma by imposing a significant penalty if Lumos Pharma accepts a competing bid. Lumos Pharma insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Lumos Pharma’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
If you own Lumos Pharma common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or here.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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CONTACT: Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
KEYWORD: WISCONSIN UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: LEGAL CLASS ACTION LAWSUIT
SOURCE: Ademi LLP
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