Cellular Biomedicine Group, Inc.
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CELLULAR BIOMEDICINE MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF CELLULAR BIOMEDICINE GROUP, INC. IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – CBMG
August 12, 2020.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Cellular Biomedicine Group, Inc. (NASDAQ: CBMG) to a newly-formed entity (“Parent”) formed on behalf of a consortium consisting of: (i) Bizuo (Tony) Liu (CEO of Cellular Biomedicine) and certain other members of Cellular Biomedicine management (Yihong Yao, Li (Helen) Zhang and Chengxiang (Chase) Dai); (ii) Dangdai International Group Co., Limited, Mission Right Limited, Wealth Map Holdings Limited, Earls Mill Limited, OPEA SRL, Maplebrook Limited, Full Moon Resources Limited, Viktor Pan and Zheng Zhou; and (iii) Yunfeng Fund III, L.P., TF Capital Fund III L.P., Velvet Investment Pte. Ltd., and Bizuo (Tony) Liu (collectively, the “Consortium”).
Under the terms of the merger agreement, Cellular Biomedicine stockholders will receive $19.75 in cash for each outstanding share of common stock held immediately prior to the effective time of the merger, other than (i) the shares owned by Parent or its subsidiaries, (ii) the shares held by Cellular Biomedicine as treasury stock, (iii) certain shares held by members of the Consortium, and (iv) the shares in respect of which appraisal rights have been properly and validly exercised under Delaware law.
On behalf of Cellular Biomedicine shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
The investigation concerns whether Cellular Biomedicine and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to: (1) obtain the best possible consideration for Cellular Biomedicine shareholders; (2) determine whether the Consortium is underpaying for Cellular Biomedicine; and (3) disclose all material information necessary for Cellular Biomedicine shareholders to adequately assess and value the proposed transaction.
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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