Stock Symbol:
ENTO
Case Status:
Investigations
Ademi LLP is investigating Entero (Nasdaq: ENTO) for possible breaches of fiduciary duty and other violations of law in its transaction with Journey.
In the reverse merger transaction, the shareholders of Journey will acquire 99% of the equity of Entero. The transaction agreement unreasonably limits competing transactions for Entero by imposing a significant penalty if Entero accepts a competing bid. Entero insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Entero’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.