NEW YORK, Oct. 5, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Eidos Therapeutics, Inc. ("EIDX" or the "Company") (NASDAQ: EIDX) in connection with the proposed interested-party acquisition of the Company by BridgeBio Pharma, Inc. ("BridgeBio"), pursuant to which BridgeBio will acquire all of the minority shares of EIDX that it does not already own. Under the terms of the acquisition agreement, EIDX shareholders can elect to receive either 1.85 shares of BridgeBio or $73.26 in cash for each share of EIDX common stock that they own, up to an aggregate maximum of $175 million of cash.
If you own EIDX 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
In light of the fact that BridgeBio already controls 64% of EIDX's common stock, WeissLaw is investigating whether EIDX's board was truly independent and fully informed as to the valuation of the proposed acquisition of the Company, whether the Board acted in the best interest of EIDX's minority public shareholders in agreeing to the proposed transaction, and whether all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed to EIDX shareholders. Notably, at least one analyst set a price target of $80.00 per EIDX share, or approximately $7.00 above the per share cash consideration.
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