BALA CYNWYD, Pa., July 24, 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.
Sculptor Capital Management Inc. (NYSE – SCU)
Under the terms of the agreement, Sculptor will be acquired by Rithm Capital Corp. (“Rithm”) (NYSE – RITM). Sculptor shareholders will receive $11.15 per share in cash. The investigation concerns whether the Sculptor Board breached its fiduciary duties to shareholders by failing to conduct a fair process resulting in Rithm paying less than full value for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/sculptor-capital-management-inc-nyse-scu/.
Neoleukin Therapeutics, Inc. (Nasdaq - NLTX)
Under the terms of the agreement, Neoleukin will merge with Neurogene Inc. Neoleukin will issue to pre-merger Neurogene stockholders shares of Neoleukin common stock as merger consideration in exchange for the cancellation of shares of capital stock of Neurogene, and Neurogene will become a wholly owned subsidiary of Neoleukin. Pre-merger Neoleukin stockholders are expected to own approximately 16% of the combined company and pre-merger Neurogene stockholders are expected to own approximately 84% of the combined company. The investigation concerns whether the Neoleukin Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution to Neoleukin shareholders in the combined company.
Additional information can be found at https://www.brodskysmith.com/cases/neoleukin-therapeutics-inc-nasdaq-nltx/.
Pardes Bioscience, Inc. (Nasdaq – PRDS)
Under the terms of the Merger Agreement, Pardes will be acquired by MediPacific, Inc. for a price per share of not less than $2.02 in cash and an additional cash amount of not more than $0.17 per share, with the final price per share being based on the amount of the Company’s net cash at closing, plus a non-tradeable contingent value right associated with any future monetization of its COVID-19 antiviral portfolio and related intellectual property. The investigation concerns whether the Pardes Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether MediPacific is paying too little for the Company. For example, the deal consideration is below the 52-week high of $3.93 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/pardes-bioscience-inc-nasdaq-prds/.
Great Ajax Corp. (NYSE – AJX)
Under the terms of the agreement, Great Ajax will be acquired by Ellington Financial Inc (“Ellington”). Great Ajax shareholders will receive only 0.5308 of a share of Ellington for each share of Great Ajax common stock they own. The investigation concerns whether the Great Ajax Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Ellington is paying too little for the Company. Upon the closing of the transaction, Great Ajax shareholders are expected to own only approximately 16% of the combined company’s stock.
Additional information can be found at https://www.brodskysmith.com/cases/investigation-great-ajax-corp-nyse-ajx/.
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.
