Ademi LLP is investigating Viela (Nasdaq: VIE) for possible breaches of fiduciary duty and other violations of law in its transaction with Horizon.
Ademi LLP alleges Viela’s financial outlook is improving and yet Viela shareholders will receive only $53 for each Viela share they own. The merger agreement unreasonably limits competing bids for Viela by prohibiting solicitation of further bids, and imposing a termination penalty if Viela accepts a superior bid. Viela insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Viela’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 Viela.