Ademi LLP is investigating NGM Bio (Nasdaq: NGM) for possible breaches of fiduciary duty and other violations of law in its transaction with Atlas Neon.
In the transaction, NGM Bio shareholders will receive only $1.55 in cash. The transaction agreement unreasonably limits competing transactions for NGM Bio by imposing a significant penalty if NGM Bio accepts a competing bid. NGM Bio insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of NGM Bio’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.