Ademi LLP is investigating Singular Genomics (Nasdaq: OMIC) for possible breaches of fiduciary duty and other violations of law in its transaction with the Deerfield.
In the transaction, Singular Genomics shareholders will receive $20.00 per share. Singular Genomics insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Singular Genomics by imposing a significant penalty if Singular Genomics accepts a competing bid. We are investigating the conduct of Singular Genomics’ board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.