GlobeNewswire Inc | Feb 11, 2021 02:06PM EST

February 11, 2021

NEW YORK, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Akers Biosciences, Inc. (NASDAQ: AKER) breached their fiduciary duties or violated the federal securities laws in connection with the companys acquisition by MyMD Pharmaceuticals, Inc.

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On November 12, 2020, Akers announced that it had signed an agreement to be acquired by MyMD in an all-stock merger. Pursuant to the merger agreement, at the close of the merger, Akers stockholders will own approximately 20% of the combined company. In addition, the merger agreement provides for cash and stock payments to Akers stockholders under certain circumstances. The deal is scheduled to close in the first half of 2021.

Bragar Eagel & Squire is concerned that Akers board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Akers stockholders.

If you own shares of Akers and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email atinvestigations@bespc.comor telephone at (646) 860-9157, or byfilling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:Bragar Eagel & Squire, P.C.Melissa Fortunato, Esq.Alexandra Raymond, Esq.investigations@bespc.comwww.bespc.com