NEW YORK, Dec. 19, 2023 (GLOBE NEWSWIRE) — Wolf Popper LLP is investigating claims on behalf of investors in Eargo, Inc. (NASDAQ: EAR) concerning the acquisition of Eargo by its controlling shareholder, Patient Square Capital. Under the terms of the acquisition, Eargo shareholders would receive $2.55 per share in cash.
According to Wolf Popper partner Carl Stine, “The deal price of $2.55 per share seems unfairly low. It is significantly below Eargo’s 52-week average and high stock prices of $6.32 and $14.60 per share, respectively, in the year prior to the deal being announced, and the deal is not conditioned on approval by a vote of the majority of Eargo’s minority unaffiliated stockholders, which would have offered some protection to Eargo’s minority shareholders from having to take an unattractive deal. You have to wonder why Patient Square is afraid to ask the public shareholders for approval if Patient Square thinks the price is fair.”
Wolf Popper is investigating claims on behalf of investors in Eargo concerning the transaction. Eargo’s shareholders seeking more information about the transaction or Wolf Popper’s investigation can contact Mr. Stine at (212) 451-9631 or cstine@wolfpopper.com.
Wolf Popper has extensive experience representing investors in mergers and acquisition investigations and lawsuits. Wolf Popper was recently awarded one of Chambers and Partners’ USA Spotlight Guide top rankings for 2024. Ten Wolf Popper attorneys were named Super Lawyers or Rising Stars in the 2023 Super Lawyers New York City Metro Edition, including Wolf Popper partner Carl Stine, who was included in the Super Lawyers Top 100 List for the New York City Metro area. View Wolf Popper attorney biographies at www.wolfpopper.com.
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