Ademi LLP is investigating Asensus Surgical (NYSE: ASXC) for possible breaches of fiduciary duty and other violations of law in its transaction with KARL STORZ.
In the transaction, Asensus Surgical shareholders will receive only $0.35 per share in cash. The transaction agreement unreasonably limits competing transactions for Asensus Surgical by imposing a significant penalty if Asensus Surgical accepts a competing bid. Asensus Surgical insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Asensus Surgical’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.