NEW YORK, June 29, 2020 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the board of directors of resTORbio,
Inc. ("TORC" or the "Company") (NASDAQ: TORC) in connection with
the proposed merger of the Company with privately-held
biopharmaceutical company Adicet Bio, Inc. ("Adicet"). Under
the terms of the agreement, Adicet will merge with a wholly-owned
subsidiary of TORC in an all-stock transaction, with the
equityholders of Adicet becoming owners of 75% of the outstanding
common stock of TORC upon the close of the merger. The
remaining 25% of the combined surviving company will be owned by
former TORC shareholders.
If you own TORC shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://www.weisslawllp.com/restorbio-inc/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether TORC's board was fully
informed as to the valuation of the proposed merger given Adicet's
status as a privately-held company and prospective majority
ownership of the combined company, whether the board acted to
maximize shareholder value prior to entering into the acquisition
agreement, and whether all information regarding the valuation of
the deal will be available to TORC shareholders.
In light of the foregoing, WeissLaw is concerned whether the
proposed acquisition undervalues the Company, and whether all
material information related to the proposed acquisition is fully
and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP