SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of QSAM Biosciences, Inc. (OTC – QSAM)
BALA CYNWYD – February 8, 2024 /NewsFile/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of QSAM Biosciences, Inc. (“QSAM Biosciences” or the “Company”) (OTC – QSAM) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the acquisition of the Company by Telix Pharmaceuticals Limited (“Telix”). Under the terms of the transaction, QSAM Biosciences stockholders will receive (i) $33.1 million in Telix ordinary shares (“Telix Shares”) or cash, less an adjustment amount equal to QSAM’s indebtedness and payables as of the merger closing (the “Closing Consideration”), and (ii) contingent value rights (“CVRs”) to receive future payments of up to $90 million upon the achievement of four clinical and commercial milestones within ten years of closing.
The investigation concerns whether the QSAM Biosciences Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Telix is paying fair value to shareholders of the Company.
If you own shares of QSAM Biosciences 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.