NEW YORK, July 7, 2020 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the board of directors of MYOS RENS Technology
Inc. ("MYOS" or the "Company") (NASDAQ: MYOS) in connection with
the proposed merger of the Company with privately-held
pharmaceutical company MedAvail, Inc. ("MedAvail"). Under the
terms of the agreement, all of the assets and liabilities of MYOS
(with exception to certain excluded assets) will be contributed to
a subsidiary of MYOS, and shares of that subsidiary will then be
distributed as a dividend to MYOS shareholders immediately
following the closing of the merger. Ultimately, following
the closing of the deal, MYOS shareholders will own only 3.5% of
the new combined company, with MedAvail's security holders and new
investors owning the remaining 96.5% of the new entity.
If you own MYOS shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://www.weisslawllp.com/myos-rens-technology-inc/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating, among other things, (i) whether MYOS'
board was fully informed as to the valuation of the proposed merger
given MedAvail's status as a privately-held company and that
MedAvail will end up owning 96.5% of the combined company, (ii)
whether the board acted to maximize shareholder value prior to
entering into the merger agreement, and (iii) whether all
information regarding the valuation of the deal will be available
to MYOS shareholders.
In light of the foregoing, WeissLaw is concerned that the
proposed acquisition may undervalue the Company and that all
material information related to the proposed acquisition may not be
fully and fairly disclosed.
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 stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP
