BALA CYNWYD, PA / ACCESSWIRE / August 26, 2020 / Law Office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Proteostasis Therapeutics, Inc. ("PTI" or the "Company") (NASDAQ:PTI) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to merge with privately-held Yumanity Therapeutics, Inc. ("Yumanity"), in a stock-for-stock reverse merger where PTI will acquire all outstanding shares of Yumanity in exchange for newly-issued shares of PTI common stock. As structured presently, PTI shareholders will own only 32.5% of the new combined company.
The investigation concerns whether the PTI Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
If you own shares of PTI 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, 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, visit http://www.brodskysmith.com/cases/proteostasis-therapeutics-inc-nasdaq-pti/, or call toll free 877-534-2590.
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: Law Office of Brodsky & Smith, LLC