NEW YORK, Feb. 8, 2017 /PRNewswire/ --
WeissLaw LLP is investigating possible breaches of fiduciary
duty and other violations of law by the Board of Directors of
GenVec, Inc. ("GNVC" or the "Company") in connection with the
proposed acquisition of the Company by Intrexon Corporation
("Intrexon"). Under the terms of the agreement, GNVC
shareholders will receive 0.297 of a share of Intrexon for each
share they own, representing consideration of $7.00 based on Intrexon's 5-day value weighted
average price as of January 23,
2017. GNVC shareholders will also receive a right to
contingent consideration equal to 50% of any milestones or royalty
payments received within 36 months of closing of the transaction
under GNVC's ongoing Research Collaboration and License Agreement
with Novartis.
WeissLaw is investigating whether GNVC's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, GNVC shares traded at $10.44
per share, or $3.44 above the
consideration, as recently as January 10. Further, according
to Intrexon, the acquisition of GNVC and its many proprietary and
patent-protected technologies will "accelerate [Intrexon's] ability
to develop cutting-edge gene therapies."
Given these facts, WeissLaw is investigating the Board of
Directors' decision to sell GNVC and whether GNVC shareholders will
obtain their fair and proportionate share of the Company's
continued success and future growth prospects. If you own
GNVC shares and would like more information about your rights or
our investigation, or if you have information to share with us,
please contact Joshua Rubin by
telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
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 or fill out the form
on our website, http://www.weisslawllp.com/genvec-inc/
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SOURCE WeissLaw LLP