Rubric Capital and Velan Capital Reach Agreement with Heron Therapeutics for Board Representation and Corporate Governance Improvements

MarketWatch, Insightia (subscription required) and other media sources reported on the agreement Olshan clients Rubric Capital and Velan Capital reached with Heron Therapeutics pursuant to which three new independent directors were appointed to Heron’s board – including Adam Morgan of Velan Capital – and two incumbent directors departed the board. The company also agreed to separate the Chairman and CEO roles effective immediately following the company’s upcoming annual meeting. Vice Chair of Olshan’s Shareholder Activism practice Ryan Nebel represented Rubric Capital and Velan Capital in connection with their agreement with Heron Therapeutics.