Ademi LLP is investigating TherapeuticsMD (NASDAQ: TXMD) for possible breaches of fiduciary duty and other violations of law in its transaction with EW Healthcare.
Ademi LLP alleges TherapeuticsMD’s financial outlook and prospects are excellent and yet TherapeuticsMD holders will receive only $10.00 per share in an all-cash transaction. The transaction agreement unreasonably limits competing bids for TherapeuticsMD by imposing a significant penalty if TherapeuticsMD accepts a superior bid. TherapeuticsMD insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of TherapeuticsMD’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for TherapeuticsMD.