SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Landos Biopharma, Inc. (Nasdaq – LABP)
BALA CYNWYD – March 25, 2024 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Landos Biopharma, Inc. (“Landos Biopharma” or the “Company”) (Nasdaq – LABP) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the acquisition of the Company by AbbVie Inc. (“AbbVie”) (NYSE – ABBV). Under the terms of the transaction, AbbVie will acquire Landos Biopharma at a price of $20.42 per share in cash, or approximately $137.5 million in the aggregate, plus one non-tradable contingent value right per share with a value of up to $11.14 per share, or approximately an additional $75 million in the aggregate, subject to the achievement of a clinical development milestone.
The investigation concerns whether the Landos Biopharma Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration offers fair value to the Company’s shareholders.
If you own shares of Landos Biopharma stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.