What's Happening?
Halper Sadeh LLC is investigating the sale of Avidity Biosciences to Novartis for $72 per share, questioning whether the transaction is fair to shareholders. The firm is assessing potential violations
of federal securities laws and fiduciary duties by Avidity's board of directors.
Why It's Important?
This investigation could affect the outcome of Avidity Biosciences' sale, potentially leading to increased consideration for shareholders or additional disclosures. The scrutiny may prompt Avidity to reassess its decision-making processes and ensure fair treatment of its investors.
