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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Realm Therapeutics plc (“Realm” or the “Company”) (NASDAQCM: RLM) to ESSA Pharma Inc., LLC (NASDAQ: EPIX; TSX-V: EPI). Under the terms of the merger, Realm Shareholders will be entitled to receive approximately 0.058 ESSA ordinary shares for each Realm Share based upon a 60-day volume-weighted average price of ESSA shares of USD $3 .19 per share of ESSA as of the close of trading on May 14th, 2019, subject to a final adjustment based on Realm’s final net cash amount prior to closing of the Acquisition.
The Realm merger investigation concerns whether the Board of Realm breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether ESSA Pharma Inc. is underpaying for Realm shares, thus unlawfully harming Realm shareholders.
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