Ademi LLP is investigating Forma Therapeutics (NASDAQ: FMTX) for possible breaches of fiduciary duty and other violations of law in its transaction with Novo Nordisk.
Ademi LLP alleges Forma Therapeutics’ financial outlook and prospects are excellent and yet Forma Therapeutics holders will receive only $20 per share. The transaction agreement unreasonably limits competing bids for Forma Therapeutics by imposing a significant penalty if Forma Therapeutics accepts a superior bid. Forma Therapeutics insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Forma Therapeutics’ board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Forma Therapeutics.