CALYXTPAR MILWAUKEE, Jan. 18, 2023 /PRNewswire/ -- Ademi LLP is investigating Calyxt (Nasdaq: CLXT) for possible breaches of fiduciary duty and other violations of law in its transaction with Cibus.
Click here to learn how to join the action https://www.ademilaw.com/case/calyxt-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi LLP alleges Calyxt's financial outlook and prospects are excellent and yet Calyxt shareholders are being expected to approve a merger transaction in which Cybus shareholders will receive Calyxt shares in an exchange ratio such that upon completion of the merger, Calyxt shareholders' interests will be diluted to only approximately 5% of the combined company, subject to certain adjustments. The transaction agreement unreasonably limits alternative transactions by imposing a significant penalty if Calyxt enters into a superior transaction. Calyxt insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Calyxt'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 Calyxt.
If you own Calyxt common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/calyxt-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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Ademi LLP
Guri Ademi
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SOURCE Ademi LLP
