Lisata Therapeutics agreed to be acquired by Kuva Labs, Inc. for $4.00 per share in cash plus two non-tradeable contingent value rights payable upon achievement of specified milestones.

Halper Sadeh LLC has opened a shareholder investigation into the transaction, alleging potential violations of federal securities laws and breaches of fiduciary duties by Lisata’s board.

The proposed sale grants insiders substantial financial benefits not afforded to ordinary shareholders and may include terms that limit superior competing offers, raising fairness concerns.

Shareholders are encouraged to contact the law firm to pursue increased consideration, additional disclosures, or other relief on a contingent fee basis without out-of-pocket costs.