Ademi & Fruchter LLP is investigating Nevro (NYSE: NVRO) for possible breaches of fiduciary duty and other violations of law in its transaction with Globus Medical.
In the transaction, Nevro stockholders will receive only $5.85 per share, representing a total equity value of approximately $250 million. Nevro insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Nevro by imposing a significant penalty if Nevro accepts a competing bid. We are investigating the conduct of Nevro’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.