BALA CYNWYD, Pa., Sept. 21, 2022 (GLOBE NEWSWIRE) — The law firm of Brodsky & Smith announces that it is investigating potential claims against the board of directors of Renovacor, Inc. (“Renovacor” or the “Company”) (NYSE – RCOR) for possible breaches of fiduciary duty and other violations of federal and state laws in connection with the company’s agreement to be acquired by Rocket Pharmaceuticals, Inc. (Nasdaq – RCKT). Under the terms of the merger agreement, Rocket Pharmaceuticals will acquire Renovacor in an all-stock transaction for an implied value of approximately $2.60 per share, based on the volume-weighted average trading price of shares of Rocket Pharmaceuticals from $15.51 for the 30 trading days up to and including Monday, September 19, 2022.
The investigation focuses on whether Renovacor’s board of directors breached its fiduciary duties to shareholders by failing to conduct due process and whether Rocket Pharmaceuticals is paying too little for the company. For example, the trade consideration is below the 52-week high of $10.47 for the company’s stock.
If you own Renovacor stock and wish to discuss the legal ramifications of the investigation, or have any questions, you can email or call Brodsky & Smith’s law firm which, at no obligation or cost to you , will try to answer your questions. You can contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/renovacor- inc-nyse-rcor/, or call toll-free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise in representing shareholders across the country in securities lawsuits and class actions. Brodsky & Smith attorneys have been appointed by numerous courts across the country to serve as lead counsel in class action lawsuits and have successfully recovered millions of dollars for our clients and shareholders. Lawyer advertisement. Previous results do not guarantee a similar result.