SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Sesen Bio, Inc. (Nasdaq – SESN)

BALA CYNWYD – January 4, 2023 /Globe/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Sesen Bio, Inc. (“Sesen” or the “Company”) (Nasdaq – SESN) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s agreement to merge with Carisma Therapeutics Inc. (“Carisma”). Under the terms of the merger agreement, Carisma shareholders will receive newly issued shares of Sesen common stock pursuant to an exchange ratio formula. Immediately prior to the closing of the proposed merger, the Company’s shareholders will be issued a contingent value right for each outstanding share of Sesen common stock held. Once the transaction is completed, Sesen shareholders are expected to only own approximately 41.7% of the combined company, while Carisma shareholders are expected to own approximately 58.3%.

The investigation concerns whether the Sesen Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of Sesen shareholders in the combined company.

If you own shares of Sesen 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.