NEW YORK, Oct. 27, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Longevity Acquisition Corporation ("LOAC" or the "Company") (NASDAQ: LOAC) in connection with the Company's proposed merger with 4D Pharma PLC ("4D Pharma"), a British pharmaceutical company focused on the development of Live Biotherapeutic products. Under the terms of the merger agreement, LOAC will acquire 4D Pharma through a reverse merger, and 4D Pharma will launch a new NASDAQ-listed American Depositary Share ("ADS") program under the ticker symbol "LBPS." Upon closing, LOAC shareholders will receive 7.5315 ordinary shares of 4D Pharma, payable in 4D Pharma ADSs, with each ADS representing 8 ordinary shares, and are expected to own approximately 13.1% of the combined entity.
If you own LOAC 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. WeissLaw LLP 1500 Broadway, 16th Floor New York, NY 10036 (212) 682-3025 (888) 593-4771 [email protected]
WeissLaw is investigating whether LOAC's board acted in the best interest of LOAC's public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of 4D Pharma, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to LOAC public shareholders.
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]