NEW YORK, Jan. 21, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Obalon Therapeutics, Inc. ("Obalon" or the "Company") (NASDAQ: OBLN) in connection with the proposed merger of the Company with ReShape Lifesciences Inc. ("ReShape") (OTCQB: RSLS). Under the terms of the merger agreement, ReShape will acquire Obalon in an all-stock transaction, pursuant to which Obalon will be renamed ReShape Lifesciences Inc. and will trade under the NASDAQ ticker symbol "RSLS." Upon completion of the merger, ReShape stockholders will own approximately 51% of the combined company's outstanding common stock and Obalon stockholders will own approximately 49%.
If you own OBLN 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 LLP is investigating whether Obalon's board acted in the best interest of Obalon's public shareholders in agreeing to the proposed transaction, whether the merger consideration adequately compensates Obalon's shareholders, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to Obalon's 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]