1. Halper Sadeh LLC is investigating Elevation's sale fairness to shareholders. 2. Shareholders will receive $0.36 per share plus contingent value rights. 3. Concerns exist about the terms and valuation of the sale. 4. Elevations' board may have breached fiduciary duties to shareholders. 5. Legal action could seek better terms and more disclosures.
The ongoing investigation raises concerns about the fairness of the sale, which may decrease investor confidence and lead to a lower stock price like seen in similar cases where investor rights were threatened.
The investigation has high implications for how shareholders perceive the transaction, directly impacting stock value.
The immediate investigation and potential legal actions can quickly affect stock market sentiment as shareholders react.
NEW YORK--(BUSINESS WIRE)-- Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Elevation Oncology, Inc. (NASDAQ: ELEV) to Concentra Biosciences, LLC is fair to Elevation shareholders. Under the terms of the proposed transaction, Elevation shareholders will receive $0.36 in cash per share, plus one non-tradeable contingent value right representing the right to receive: (i) 100% of the closing net cash in excess of $26.4 million; and (ii) 80% of any net proceeds received within five years following closing from any disposition of EO-1022 that occurs within one year following closing.
Halper Sadeh encourages Elevation shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@halpersadeh.com or zhalper@halpersadeh.com.
The investigation concerns whether Elevation and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Elevation shareholders; (2) determine whether Concentra is underpaying for Elevation; and (3) disclose all material information necessary for Elevation shareholders to adequately assess and value the merger consideration.
On behalf of Elevation shareholders, Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.
Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
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