Seres Therapeutics Inc

NASDAQ:MCRBUnited States

Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to:

NEW YORK, NY / ACCESSWIRE / August 19, 2024 / Lifshitz Law Firm

Seres Therapeutics, Inc. (NASDAQ:MCRB)

Lifshitz Law PLLC announces an investigation into possible breach of fiduciary duties in connection with MCRB's agreement with Société des Produits Nestlé S.A ("Nestlé") for the sale of its VOWST business to Nestlé Health Science. Under the terms of the agreement, MCRB is due to receive: (i) payment of $100M, less approximately $20M in settlement of net obligations payable to Nestlé at closing; (ii) prepayment of a $60M milestone payment at closing; (iii) installment payments of $50M in January 2025, and $25M (less up to approximately $1.5M in employment related payments to Nestlé), in July 2025, subject to MCRB's material compliance with transition obligations; and (iv) future milestone payments based on VOWST worldwide net sales as follows: (1) $125M upon achievement of annual worldwide net sales of $400M; and (2) $150M upon achievement of annual worldwide net sales of $750M. In addition, at the closing, Nestlé will purchase $15M of MCRB common stock at closing, representing the purchase of 14,285,715 shares, at a price per share of $1.05 (reflecting a 10% premium to the 30-day volume weighted average price prior to the announcement of the Memorandum of Understanding).