Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of OvaScience, Inc. (NASDAQGS: OVAS) to Millendo Therapeutics, Inc. Under the terms of the transaction, OvaScience shareholders will receive shares in the combined entity for each share of OvaScience they own, and will own approximately 20% of the combined company. Per a press release issued on August 9, 2018, shares will be allocated “subject to adjustment based on OvaScience’s net cash balance at the time of closing and the amount of any additional financing consummated by Millendo at or before the closing of the merger.”
The OvaScience merger investigation concerns whether the Board of OvaScience breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Millendo Therapeutics, Inc. is underpaying for OvaScience shares, thus unlawfully harming OvaScience shareholders.
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