Pliant Therapeutics (PLRX) announced that its Board of Directors has unanimously adopted a limited duration stockholder rights agreement to protect stockholder interests. The Board resolved to adopt the Rights Agreement in response to recent accumulations of the Company’s common stock. The Rights Agreement is intended to reduce the likelihood that any entity, person or group is able to gain control of Pliant through open market accumulation without paying all stockholders an appropriate control premium or providing the Board sufficient opportunity to make informed judgments and take actions that are in the best interests of all stockholders.
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