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 a stock only transaction for an implied value of approximately $2.60 per share based on the volume weighted average trading price of Rocket Pharmaceuticals shares of $15.51 for the 30 trading days up to and including Monday 19 September 2022.
The investigation concerns whether Renovacor’s board of directors failed in its fiduciary duty to shareholders by failing to conduct a fair trial and whether Rocket Pharmaceuticals is underpaying the company. For example, the transaction consideration is below the 52-week high of $10.47 for the company’s shares.
If you own stock of Renovacor and would like to discuss the legal implications of the investigation or have any questions, you may contact the law firm of Brodsky & Smith by email or phone, who will, at no obligation or cost to you, attempt to answer your questions. You can visit Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004 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 experience representing shareholders nationwide in securities and class actions. Brodsky & Smith attorneys have been appointed by numerous courts across the country as lead counsel in class action lawsuits and have successfully recovered millions of dollars for our clients and shareholders. Lawyer…
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