BALA CYNWYD, Penn., Aug. 14, 2023 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
Zynerba Pharmaceuticals, Inc. (Nasdaq - ZYNE)
Under the terms of the Agreement, Zynerba will be acquired by Harmony Biosciences Holdings, Inc. (“Harmony”) (Nasdaq - HRMY). Harmony will commence a tender offer to acquire all outstanding shares of Zynerba for a purchase price of $1.1059 per share in cash, or $60 million in the aggregate, plus one non-tradeable contingent value right (CVR) per share, representing the right to receive potential additional payments of up to $140 million in the aggregate, subject to the achievement of certain clinical, regulatory and sales milestones. The investigation concerns whether the Zynerba Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Harmony is paying fair value to shareholders of the Company.
Additional information can be found at: https://www.brodskysmith.com/cases/zynerba-pharmaceuticals/.
Chindata Group Holdings Limited (Nasdaq - CD)
Under the terms of the Agreement, Chindata will be acquired by BCPE Chivalry Bidco Limited (“BCPE”). BCPE will pay $4.30 per ordinary stock and $8.60 per American depositary share in a deal with an equity value of approximately $3.16 billion. The investigation concerns whether the Chindata Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether BCPE is paying fair value to shareholders of the Company.
Additional information can be found at: https://www.brodskysmith.com/cases/chindata-group-holdings-limited-nasdaq-cd/.
Capri Holdings Limited (NYSE – CPRI)
Under the terms of the agreement, Capri Holdings will be acquired by Tapestry, Inc. (NYSE - TPR). Under the terms of the Agreement, Capri Holdings shareholders will receive $57.00 per share in cash for a total enterprise value of approximately $8.5 billion. The investigation concerns whether the Capri Holdings Board breached its fiduciary duties to shareholders by failing to conduct a fair process resulting in Tapestry paying less than full value for the Company. For example, the deal consideration is less than the 52-week high of $69.25 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/capri-holdings-limited-nyse-cpri/.
Avid® (Nasdaq - AVID)
Under the terms of the Merger Agreement, Avid will be acquired by an affiliate of STG in an all-cash transaction valuing Avid at approximately $1.4 billion, inclusive of Avid’s net debt. Under the terms of the agreement, Avid stockholders will receive $27.05 in cash for each share of Avid common stock. The investigation concerns whether the Avid Board breached its fiduciary duties to shareholders by failing to conduct a fair process resulting in STG paying less than full value for the Company. For example, the deal consideration is less than the 52-week high of $33.41 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/14652/.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
