PR Newswire
NEW YORK, Nov. 12, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Akers Biosciences, Inc. (“Akers” or the “Company”) (NASDAQ: AKER) in connection with the Company’s proposed merger with privately-held MyMD Pharmaceuticals, Inc. (“MyMD”). Under the terms of the merger agreement, Akers and MyMD will combine resulting in current MyMD stockholders owning 80% of the newly-combined post-close company, leaving Akers stockholders with a mere 20% of the new entity. Additionally, the merger agreement also provides for cash and stock payments to MyMD stockholders under certain circumstances. The combined company will continue to trade on the NASDAQ under the new ticker symbol “MYMD.”
If you own Akers shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
http://www.weisslawllp.com/aker/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
[email protected]
WeissLaw is investigating (i) whether Akers’ board acted in the best interest of Akers’ public stockholders in agreeing to the proposed transaction, (ii) whether the board was fully informed as to the value of privately-held MyMD, (iii) whether the deal’s equity split is fair to Akers’ stockholders, and (iv) whether all information regarding the sales process undertaken by the board and financial analyses supporting the transaction will be fully and fairly disclosed to Akers’ public stockholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
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SOURCE WeissLaw LLP
