NEW YORK, Aug. 24, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Proteostasis Therapeutics, Inc. (NASDAQ: PTI) (“PTI”) breached their fiduciary duties or violated the federal securities laws in connection with the company’s merger with Yumanity Therapeutics.
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On August 24, 2020, PTI announced that it had signed an agreement to be acquired by Yumanity. At the close of the merger, members of PTI will collectively own approximately 32.5% of the new company, while former shareholders of Yumanity will own approximately 67.5% of the new company. The deal is scheduled to close in the fourth quarter of 2020.
Bragar Eagel & Squire is concerned that PTI’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for PTI’s stockholders.
If you own shares of PTI and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at investigations@bespc.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
Alexandra Raymond, Esq.
investigations@bespc.com
www.bespc.com