[Semler Scientific Shareholder Sues to Block Merger with Strive] A shareholder of Semler Scientific, Terry Tran, has filed a lawsuit in the U.S. District Court for the Northern District of Illinois, seeking to block the company's proposed merger with crypto treasury firm Strive. Tran accuses Semler and its board of directors of violating Sections 14(a) and 20(a) of the Securities Exchange Act, alleging that the shareholder voting materials provided by the company contain significant omissions and misleading information, particularly regarding the financial impact of the merger and the fairness of the transaction. Tran is requesting the court to halt the shareholder vote or any steps to advance the merger until the company corrects its disclosures; if the transaction has already been completed, he seeks to annul the merger or obtain monetary compensation. Previously, Strive announced that the merged company would hold over 10,900 bitcoins, positioning itself as a major reserve entity in the crypto space. If the injunction is granted, the merger could face significant delays.
--
Loading...