NEW YORK, June 29, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of resTORbio, Inc. ("TORC" or the "Company") (NASDAQ: TORC) in connection with the proposed merger of the Company with privately-held biopharmaceutical company Adicet Bio, Inc. ("Adicet"). Under the terms of the agreement, Adicet will merge with a wholly-owned subsidiary of TORC in an all-stock transaction, with the equityholders of Adicet becoming owners of 75% of the outstanding common stock of TORC upon the close of the merger. The remaining 25% of the combined surviving company will be owned by former TORC shareholders.
If you own TORC 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 TORC's board was fully informed as to the valuation of the proposed merger given Adicet's status as a privately-held company and prospective majority ownership of the combined company, whether the board acted to maximize shareholder value prior to entering into the acquisition agreement, and whether all information regarding the valuation of the deal will be available to TORC shareholders.
In light of the foregoing, WeissLaw is concerned whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
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