April 27, 2021 (ACCESSWIRE via COMTEX) -- BALA CYNWYD, PA / ACCESSWIRE / April 27, 2021 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Blue Water Acquisition Corp. ("Blue Water" or the "Company") for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which Blue Water, a special purpose acquisition company, will combine with Clarus Therapeutics Inc. ("Clarus"), a pharmaceutical company dedicated to providing solutions to unmet medical needs by advancing androgen and metabolic therapies for men and women, and result in Clarus becoming a publicly-listed company. Under the terms of the agreement, Blue Water shareholders will retain ownership of only 23% of the combined company.
The investigation concerns whether the Blue Water Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
If you own shares of Blue Water stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/blue-water-acquisition-corp-nasdaq-bluw/ , or call toll free 855-576-4847.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC
View source version on accesswire.com: https://www.accesswire.com/642481/SHAREHOLDER-NOTICE-Brodsky-Smith-LLC-Announces-an-Investigation-of-Blue-Water-Acquisition-Corp-Nasdaq-BLUW
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