ERYTECH announces that Akkadian is continuing its attempt at destabilization with the filing of a new lawsuit
ERYTECH announces that Akkadian is continuing its attempt at destabilization with the filing of a new lawsuit
Cambridge, MA (U.S.) and Lyon (France), June 20, 2023 – ERYTECH Pharma (Euronext Paris and Nasdaq: ERYP) announces the filing of a new lawsuit by Akkadian Partners.
Despite the rejection by the President of the Lyon Commercial Court of Akkadian Partners’ request to postpone the General Meeting’s vote on the proposed merger, Akkadian has initiated new legal proceedings with the clear aim of continuing its attempt to destabilize Erytech.
As part of this new procedure, the first hearing of which will take place after the vote on the merger, Akkadian Partners is requesting the cancellation of the capital increase of May 15, 2023. This capital increase, resulting from contributions in kind of Pherecydes shares in exchange for ERYTECH shares, had been announced at the time of the merger announcement last February and had been carried out in accordance with the delegation of authority granted by the 2022 extraordinary general meeting of ERYTECH shareholders under resolution 29 and on the basis of reports issued by Finexsi, acting as a contribution appraiser (commissaire aux apports), in accordance with Articles L. 225-147, R. 22-10-7 and R. 225-136 of the French Commercial Code as well as AMF recommendation no. 2020-06.
Erytech is confident of the outcome of this unfounded procedure, which appears bound to failure.