Cases & Investigations
Asterias Biotherapeutics, Inc. Breach of Fiduciary Duty Litigation
Type: Resolved Cases
Case Number: 2019-0822-AGB
Court: Delaware Chancery Court
Settlement Amount: $10,650,000
Wolf Popper LLP Commences Litigation on behalf of Former Asterias Biotherapeutics Shareholders
On October 14, 2019, Wolf Popper filed a class action lawsuit in the Delaware Court of Chancery, asserting breach of fiduciary duty claims in connection with the 2019 merger between clinical-stage biotech companies Asterias Biotherapeutics, Inc. and BioTime, Inc. (now known as Lineage Cell Therapeutics, Inc.).
The complaint alleges, among other things, that the process leading up to the Asterias Merger was conflicted, that the Asterias Merger consideration was inadequate, and that the proxy statement filed by Asterias with the SEC omitted certain material information, which rendered the information disclosed to shareholders materially misleading.
Contact Instructions
Phone: Adam Blander - (212) 451-9667
Email: Outreach@wolfpopper.com
Case Inquiries
Case Update | 2/9/2023
Case Update | 12/12/2022
Case Update | 10/27/2022
Case Update | 9/21/2020