Apimeds Pharmaceuticals US readies Delaware Court of Chancery action over Inscobee board takeover attempt

Reuters
Mar 24
Apimeds Pharmaceuticals US readies <a href="https://laohu8.com/S/VMM">Delaware</a> Court of Chancery action over Inscobee board takeover attempt
  • Apimeds Pharmaceuticals US said Inscobee and its subsidiary Apimeds filed an amended Schedule 13D asserting they removed four directors and installed three replacements by written consent.
  • The company said the consent used 6,416,365 shares subject to an irrevocable proxy and was executed without authorization.
  • MindWave and Apimeds Pharmaceuticals US plan to file an emergency action in the Delaware Court of Chancery under 8 Del. C. § 225 seeking a declaration that the consent is void and requesting a temporary restraining order.
  • Apimeds Pharmaceuticals US said it also engaged legal counsel in South Korea to pursue remedies under Korean law related to Inscobee’s actions.


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