Ademi LLP is investigating IsoPlexis (Nasdaq: ISO) for possible breaches of fiduciary duty and other violations of law in its transaction with Berkeley Lights.
Ademi LLP alleges IsoPlexis’ financial outlook and prospects are excellent and yet IsoPlexis shareholders will receive only 0.612 shares of Berkeley Lights stock for each IsoPlexis share they hold.. The transaction agreement unreasonably limits competing bids for IsoPlexis by imposing a significant penalty if IsoPlexis accepts a superior bid. IsoPlexis insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of IsoPlexis’ board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for IsoPlexis.