BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: Zogenix, Inc. (Nasdaq - ZGNX), Social Capital Suvretta Holdings Corp. III (Nasdaq - DNAC), Viveon Health Acquisition Corp. (NYSE American - VHAQ)

Rhea-AI Summary

Brodsky & Smith has initiated investigations concerning Zogenix, Inc. (ZGNX), Social Capital Suvretta Holdings Corp. III (DNAC), and Viveon Health Acquisition Corp. (VHAQ) due to potential breaches of fiduciary duties by their boards during acquisition agreements. Zogenix is proposed to be acquired by UCB for $26.00 per share, plus a $2.00 CVR. Social Capital's merger with ProKidney results in a 9% ownership for its shareholders. Viveon Health's merger with Suneva Medical will leave its shareholders with 39.3% ownership. These investigations assess fairness in the acquisition processes.

Positive

• Zogenix acquisition by UCB may provide liquidity at $26.00 per share plus CVR.
• Viveon Health's merger with Suneva could enhance market presence in aesthetic treatments.

Negative

• Potential fiduciary breaches concerning inadequate negotiation processes.
• Significant dilution of ownership interests for shareholders in both DNAC and VHAQ.

BALA CYNWYD, Pa., Jan. 26, 2022 /PRNewswire/ -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky or Marc Ackerman at 855-576-4847. There is no cost or financial obligation to you.

Zogenix, Inc. (Nasdaq: ZGNX)    

Under the terms of the agreement, UCB will commence a tender offer to purchase all outstanding shares of Zogenix for $26.00 in cash, plus a $2.00 contingent value right (CVR) potential cash payment for each share of Zogenix stock. The investigation concerns whether the Zogenix Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether UCB is paying too little for the Company.

Additional information can be found at https://www.brodskysmith.com/cases/zogenix-inc/, or call 855-576-4847.

Social Capital Suvretta Holdings Corp. III (Nasdaq: DNAC)   

Under the terms of the agreement, SCS, a special purpose acquisition company, will combine with ProKidney LP ("ProKidney"), a leading clinical-stage cellular therapeutics company focused on chronic kidney disease, and result in ProKidney becoming a publicly-listed company. Under the terms of the agreement, SCS shareholders will retain ownership of only 9% of the combined company. The investigation concerns whether the SCS Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.

Additional information can be found at https://www.brodskysmith.com/cases/social-capital-suvretta-holdings-corp-iii-nasdaq-dnac/, or call 855-576-4847.

Viveon Health Acquisition Corp. (NYSE American: VHAQ)     

Under the terms of the agreement, Viveon Health, a special purpose acquisition company, will combine with Suneva Medical, Inc. ("Suneva"), a medical technology company in aesthetic treatments, and result in Suneva becoming a publicly-listed company. Under the terms of the agreement, Viveon Health shareholders will retain ownership of only 39.3% of the combined company. The investigation concerns whether the Viveon Health Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.

Additional information can be found at https://www.brodskysmith.com/cases/viveon-health-acquisition-corp-nyse-american-vhaq/, or call 855-576-4847.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. Attorney advertising. Prior results do not guarantee a similar outcome.

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SOURCE Brodsky & Smith, LLC

FAQ

What is the acquisition price offered for Zogenix (ZGNX)?

UCB is offering $26.00 per share, with an additional potential $2.00 contingent value right.

What is the ownership retention for SCS shareholders after the DNAC merger?

SCS shareholders will retain only 9% of the combined company.

What percentage of the combined company will Viveon Health shareholders hold after the merger?

Viveon Health shareholders will retain 39.3% of the combined company with Suneva.

What are the main concerns regarding the investigations for ZGNX, DNAC, and VHAQ?

The investigations focus on possible breaches of fiduciary duties and whether fair processes were conducted during the acquisition agreements.