GlobeNewswire

MONSEY, New York, Nov. 07, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Avid Bioservices (Nasdaq: CDMO) (“Avid”) to GHO Capital Partners (“GHO”) and Ampersand Capital Partners (“Ampersand”) for $12.50 per share in cash.

The sale price is below the price target for Avid of $14.00 per share of Wall Street analyst Paul Knight of KeyBanc (source: TipRanks).

If you remain an Avid shareholder and question the fairness of the price, you may contact our firm at the following link to discuss your legal rights at no charge:

https://wohlfruchter.com/cases/avid-bioservices/

Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.

Why is there an investigation?
On November 7, 2024, Avid announced that it had agreed to be sold to GHO and Ampersand for $12.50 per share in cash.

Notably, the sale price is below the price target for Avid of $14.00 per share of Wall Street analyst Paul Knight of KeyBanc (source: TipRanks).

“We are investigating whether the Avid Board of Directors acted in the best interests of Avid shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Avid shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”

About Wohl & Fruchter

Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.

Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com