SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Renovacor, Inc. (NYSE – RCOR)
BALA CYNWYD – September 21, 2022 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Renovacor, Inc. (“Renovacor” or the “Company”) (NYSE – RCOR) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s agreement to be acquired by Rocket Pharmaceuticals, Inc. (Nasdaq – RCKT). Under the terms of the merger agreement, Rocket Pharmaceuticals will acquire Renovacor in an all-stock transaction for an implied value of approximately $2.60 per share, based on the volume weighted average trading price of Rocket Pharmaceuticals shares of $15.51 for the 30 trading days through and including Monday, September 19, 2022.
The investigation concerns whether the Renovacor Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Rocket Pharmaceuticals is paying too little for the Company. For example, the deal consideration is below the 52-week high of $10.47 for the Company’s shares.
If you own shares of Renovacor 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, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, 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.