The Ademi Firm is investigating Optinose (NASDAQ:OPTN) for possible breaches of fiduciary duty and other violations of law in its transaction with Paratek.
In the transaction, Optinose shareholders will receive only up to $14 per share, but this includes the payment of contingent value rights (CVRs) tied to future commercial milestones to achieved by Optinose’s business. Optinose insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Optinose by imposing a significant penalty if Optinose accepts a competing bid. We are investigating the conduct of the Optinose board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.