MILWAUKEE, April 20, 2023 /PRNewswire/ — Ademi LLP is investigating Chembio CEMI for possible breaches of fiduciary duty and other violations of law in its transaction with Biosynex.
Click here to learn how to join the action https://www.ademilaw.com/case/chembio-diagnostics-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Chembio’s shareholders are expected to receive only $0.45 per share, in an all-cash transaction valued at $17.2 million. The transaction agreement unreasonably limits competing bids for Chembio by imposing a significant penalty if Chembio accepts a superior bid. Chembio insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Chembio’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Chembio.
If you own Chembio common stock and wish to obtain additional information, please contact Guri Ademi either at email@example.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/chembio-diagnostics-inc.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Ademi LLP