Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger of MYOS RENS Technology Inc. (“MYOS RENS” or the “Company”) (NASDAQ: MYOS) with MedAvail, Inc. (“MedAvail”). Under the terms of the merger, a wholly-owned subsidiary of MYOS RENS will merge with and into MedAvail, with MedAvail being the surviving corporation and a wholly-owned subsidiary of MYOS RENS. Following the merger, MYOS RENS shareholders will own approximately 3.5% of the combined company and MedAvail’s security holders and new investors will own approximately 96.5% of the combined company (on a fully diluted basis).
The MYOS RENS merger investigation concerns whether the Board of MYOS RENS breached their fiduciary duties to stockholders by agreeing to enter into this transaction and whether the merger undervalues MYOS RENS relative to MedAvail, thereby harming MYOS RENS shareholders.
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