Progressive Care Inc. (OTCQB - RXMD)

Progressive Care Inc. (OTCQB – RXMD)

SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Progressive Care Inc. (OTCQB – RXMD)

BALA CYNWYD – April 15, 2024 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Progressive Care Inc. (“Progressive Care” or the “Company”) (OTCQB – RXMD) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to NextPlat Corp (“NextPlat”) (Nasdaq – NXPL). Under the terms of the transaction, Progressive Care shareholders will receive newly issued, registered shares of NextPlat’s Common Stock. The exchange ratio of NextPlat shares to be issued in the business combination, not subject to adjustment, was calculated based upon a value per share of Common Stock of Progressive Care at $2.20.

The investigation concerns whether the Progressive Care Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether NextPlat is paying fair value to shareholders of the Company.

If you own shares of Progressive Care 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, or 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.

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