BALA CYNWYD, PA / ACCESSWIRE / July 15, 2020 / Brodsky & Smith, LLC reminds investors of investigations it is conducting regarding the following companies for possible breaches of fiduciary duty and other violations of federal and state law with respect to proposed acquisition transactions. If you own shares of any of the below-referenced stocks 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, LLC 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, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, or calling toll free 877-534-2590. There is no cost or financial obligation to you.
Pure Acquisition Corp. (NASDAQGS:PACQ)
Under the terms of the agreement, Pure shareholders will receive (i) one share of HighPeak Energy common stock, (ii) a cash payment equal to the amount, if any, by which the per-share redemption value of Pure's Class A common stock exceeds $10.00 per share at the closing of the business combination and which is estimated to be approximately $0.60 per share, and (iii) one public contingent value right ("Public CVR") at the closing of the business combination in exchange for each share of Pure Class A common stock which provides holders with a 10% per annum preferred simple return including downside protection to $4.00 per share. The investigation concerns whether the Pure Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
Additional information can be found at http://www.brodskysmith.com/cases/pure-acquisition-corp-nasdaqgs-pacq/, or call 877-534-2590. No cost or obligation to you.
Fortress Value Acquisition Corp. (NYSE:FVAC)
Under the terms of the agreement, Fortress shareholders will retain ownership of less than 24% of the combined company. The investigation concerns whether the Fortress Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
Additional information can be found at http://www.brodskysmith.com/cases/fortress-value-acquisition-corp-nyse-fvac/, or call 877-534-2590. No cost or obligation to you.
Rexahn Pharmaceuticals, Inc. (NASDAQ:REXN)
Under the terms of the agreement, upon consummation of the proposed merger, Ocuphire will own at least 85.7% of the newly-combined company; REXN stockholders will own only the remaining 14.3%. REXN stockholders will also receive certain contingent value rights ("CVR") representing the right to receive (i) 90% of payments received by the combined company pursuant to its licensing agreements with BioSense Global LLC and Zhejiang HaiChang Biotechnology Co., Ltd. during the 15-year period after the closing of the merger; and (ii) 75% of the proceeds received by the combined company from the monetization of REXN existing intellectual property during the 10-year period after the merger's close. The investigation concerns whether the REXN Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
Additional information can be found at http://www.brodskysmith.com/cases/rexahn-pharmaceuticals-inc-nasdaq-rexn/, or call 877-534-2590. No cost or obligation to you.
Brodsky & Smith, LLC 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.
SOURCE: Brodsky & Smith, LLC