SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Cyclo Therapeutics, Inc. (Nasdaq – CYTH)
BALA CYNWYD – August 27, 2024 /Newsfile/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Cyclo Therapeutics, Inc. (“Cyclo” or the “Company”) (Nasdaq – CYTH) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Rafael Holdings, Inc. (NYSE – RFL). Under the terms of the agreement, on consummation of the merger, Rafael Holdings will issue shares of its Class B common stock to Cyclo shareholders, based on an exchange ratio valuing Cyclo shares at $.95 per share and Rafael Holdings at its cash value combined with the value of its marketable securities and certain other investments less certain current liabilities.
The investigation concerns whether Cyclo Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Rafael Holdings is paying fair value to shareholders of the Company. For example, the deal consideration is below the 52-week high of $2.12 for the Company’s shares.
If you own shares of Cyclo stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com, call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.