Strive’s crypto merger with Semler Scientific faces shareholder revolt
Shareholder Terry Tran filed a lawsuit against Semler Scientific and its board, accusing them of misleading shareholders about the financial fairness of their merger with Strive.
A shareholder of healthcare technology company Semler Scientific filed a lawsuit seeking to block the company’s proposed merger with Strive, the asset manager turned Bitcoin treasury company led by former US presidential candidate Vivek Ramaswamy.
According to a complaint filed in the US District Court for the Northern District of Illinois, plaintiff Terry Tran accused Semler Scientific and its board of directors of violating Sections 14(a) and 20(a) of the Securities Exchange Act of 1934, which ban misleading shareholder voting materials and hold company leaders liable for those violations.
“The Registration Statement is materially incomplete and misleading with respect to the financial impacts of the Proposed Transaction on the combined company and the financial fairness of the Proposed Transaction,” the complaint said.
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