Ademi LLP is investigating Augmedix (Nasdaq: AUGX) for possible breaches of fiduciary duty and other violations of law in its transaction with Commure.
Augmedix stockholders will receive only $2.35 per share in an all-cash transaction that values Augmedix at approximately $139 million in equity value. The transaction agreement unreasonably limits competing transactions for Augmedix by imposing a significant penalty if Augmedix accepts a competing bid. Augmedix insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Augmedix’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.