SAN DIEGO, March 17, 2023 (GLOBE NEWSWIRE) — Shareholder rights law firm Johnson Fistel, LLP has opened an investigation to determine whether the directors of Provention Bio Inc. (Nasdaq – PRVB) have failed in their fiduciary duties related to the have breached the company’s planned sale to Sanofi (Nasdaq – SNY).

On March 13, 2023, Provention announced that it had entered into a definitive agreement to be acquired by Sanofi in a cash transaction; Benefit stockholders would receive $25.00 per share in cash.

The investigation concerns whether Provention’s board of directors has failed in its responsibilities to the company’s shareholders, including whether the board of directors appropriately pursued alternative acquisitions and whether the board of directors obtained the best possible price for Provention common stock.

Johnson Fistel is evaluating whether the proposed transaction represents appropriate consideration, particularly given the estimated $9.6 billion global market opportunity for type 1 diabetes drugs by 2030. TZIELD, which is currently conducting the Phase 3 PROTECT trial is undergoing has the opportunity to increase the market potential for newly diagnosed stage 3 T1D patients. These results are expected in H2 2023.

If you are a Provention shareholder and believe the proposed acquisition price is underpriced, or would like to learn more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistula.com) at 619-814-4471. When emailing, please include your phone number.

Also, you can click or copy and paste the following link:

https://www.johnsonfistel.com/investigations/provention-bio-inc-2

There are no costs or obligations for you.

About Johnson Fistula, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in class action lawsuits involving shareholder derivatives and securities. You can find more information about the law firm and its lawyers at…