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ADVAXIS MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE MERGER OF ADVAXIS, INC. IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – ADXS
July 6, 2021.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the merger of Advaxis, Inc. (NASDAQ: ADXS) and Biosight Ltd. is fair to Advaxis shareholders. Pursuant to the merger agreement, Advaxis will acquire all of the outstanding share capital of Biosight in exchange for the issuance of newly issued shares of Advaxis common stock. Upon completion of the merger, Advaxis’s then-current equity holders will own approximately 25% and the former Biosight equity holders will own approximately 75% percent of Advaxis’s common stock, calculated on a fully diluted basis.
The investigation concerns whether Advaxis and its board violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Advaxis shareholders; and (2) disclose all material information necessary for Advaxis shareholders to adequately assess and value the merger consideration. On behalf of Advaxis shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
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