NEW YORK, Aug. 12, 2020 /PRNewswire/ --
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Cellular Biomedicine Group, Inc. ("CBMG" or the "Company") (NASDAQ: CBMG) in connection with the proposed interested-party acquisition of the Company by a newly-formed entity consisting of CBMG's CEO Tony Liu, certain member of the Company's management, and a consortium of stockholders and equity investors (the "Affiliates"). Under the terms of the acquisition agreement, CBMG shareholders will receive $19.75 in cash for each share they own.
If you own CBMG shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether CBMG's board was truly independent and acted to maximize shareholder value in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of the proposed acquisition of the Company, and whether all information regarding the valuation of the deal will be fully and fairly disclosed to CBMG shareholders. These issues are of particular concern in light of the fact that the Affiliates consist of Company insiders and other large stockholders that collectively hold approximately 51.5% of the outstanding CBMG shares and may have exerted undue influence on the board.
Finally, at least one analyst set a target price of $28.00 per CBMG share, or $8.25 above the per-share offer price.
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]
SOURCE WeissLaw LLP