NEW YORK, Sept. 1, 2020 /PRNewswire/ —
URGENT: SHAREHOLDER VOTE OCTOBER 7, 2020
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Apollo Endosurgery, Inc. (“APEN” or the “Company”) (NASDAQ: APEN) in connection with the Company’s July 20, 2020 financing transactions requiring the issuance of APEN common stock. The financing transactions yielded approximately $25.0 million in aggregate gross proceeds. Among other things, the financing transactions permitted certain purchasers, including CPMG, Inc., an entity controlled by APEN board member R. Kent McGaughy, Jr., to obtain common stock at a purchase price of $1.25 per share, which represents an 11% discount to APEN’s August 31, 2020 closing price of $1.41.
If you own APEN shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether APEN’s board is truly independent and was acting in the best interest of APEN’s common stockholders by agreeing to the financing transactions and common stock issuance. Of particular concern is the ability of CPMG, Inc. to obtain Company common stock at a significant discount, as well as the lack of full disclosure regarding the financing transactions and common stock issuance included in APEN’s August 26, 2020 definitive proxy statement.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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SOURCE WeissLaw LLP