Morris Kandinov LLP is representing Camac Fund, LP in an action against the board of directors of Forte Biosciences, Inc. (FBRX) and other defendants arising from defensive measures taken in advance of Forte’s 2023 annual meeting. Among other things, the action challenges a highly dilutive private placement of shares and warrants (a “white squire” defense) on the eve of the meeting that would double the company’s outstanding stock and tip the director election in favor of the incumbents. The action is pending in the Delaware Court of Chancery and seeks to enjoin the participants in the private placement from influencing the election.
The complaint filed in the action is available below. For more information, contact Aaron Morris at firstname.lastname@example.org.