SHAREHOLDER ALERT: Brower Piven Announces the Investigation of Chelsea Therapeutics International, Ltd. in Connection with th...
09 Mai 2014 - 3:00AM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty to current shareholders of
Chelsea Therapeutics International, Ltd. (“Chelsea” or the
“Company”) (NasdaqCM: CHTP) and other violations of state law by
the board of directors of Chelsea relating to the proposed buyout
of the Company by H. Lundbeck A/S (“Lundbeck”).
Under the terms of the transaction, public shareholders of
Chelsea would receive $6.44 in cash, and up to $1.50 per share in a
Contingent Value Right, for each share of Chelsea they own.
According to Yahoo! Finance, at least one analyst has set a target
price for Chelsea stock at $12.00 per share. The firm’s
investigation seeks to determine, among other things, whether the
Company’s board of directors breached their fiduciary duties by
failing to maximize shareholder value before agreeing to enter into
this transaction, and whether Lundbeck is underpaying for Chelsea
shares.
If you currently own common stock of Chelsea and would like to
learn more about the investigation being conducted by Brower Piven,
without cost or obligation to you, click here:
http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Attorneys at Brower Piven together have more than a
century of experience litigating securities and other class action
cases.
Brower Piven, A Professional Corporation1925 Old Valley
RoadStevenson, Maryland 21153Charles J. Piven,
410-415-6616hoffman@browerpiven.com
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