Company: TVRD
Filing Date: 2025-11-13
Form Type: 424B3
Source: 0001104659-25-111336
Chunk: 174

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-11-13
Form: 424B3
Chunk 174
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 breach of fiduciary duty, any action asserting a claim against Tvardi arising pursuant to the
DGCL, Tvardi’s amended and restated certificate of incorporation or Tvardi’s amended and restated bylaws, or any action asserting
a claim against Tvardi that is governed by the internal affairs doctrine; provided that, the exclusive forum provision will not apply
to suits brought to enforce any liability or duty created by the Exchange Act or any other claim for which the federal courts have exclusive
jurisdiction; and provided further that, if and only if the Court of Chancery of the State of Delaware dismisses any such action for lack
of subject matter jurisdiction, such action may be brought in another state or federal court sitting in the State of Delaware.

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To prevent having to litigate claims in multiple
jurisdictions and the threat of inconsistent or contrary rulings by different courts, among other considerations, the amended and restated
certificate of incorporation and the amended and restated bylaws of Tvardi will further provide that the federal district courts of the
United States of America will be the exclusive forum for resolving any complaint asserting a cause of action arising under the Securities
Act. However, Section 22 of the Securities Act creates concurrent jurisdiction for federal and state courts over all such Securities Act
actions. Accordingly, both state and federal courts have jurisdiction to entertain such claims, and investors cannot waive compliance
with the federal laws and rules and regulations thereunder. While the Delaware courts have determined that such choice of forum provisions
are facially valid and several state trial courts have enforced such provisions and required that suits asserting Securities Act claims
be filed in federal court, there is no guarantee that courts of appeal will affirm the enforceability of such provisions and a stockholder
may nevertheless seek to bring a claim in a venue other than those designated in the exclusive forum provisions. In such instance, Tvardi
would expect to vigorously assert the validity and enforceability of the exclusive forum provisions of its amended and restated certificate
of incorporation and amended and restated bylaws. This may require significant additional costs associated with resolving such action
in other jurisdictions and there is uncertainty that the provision would be enforced by a court in those other jurisdictions. If a court
were to find either exclusive forum provision in Tvardi’s amended and restated certificate of incorporation or amended and restated
bylaws to be inapplicable or unenforceable in an action, Tvardi may incur further significant additional costs associated