SAN DIEGO and CHARLOTTE,
N.C., June 2, 2014
/PRNewswire/ -- Shareholder rights attorneys at Robbins Arroyo
LLP announce that the firm filed a class action lawsuit on
May 30, 2014, in the U.S. District
Court for the District of Delaware
(the "Court"), on behalf of the shareholders of Chelsea
Therapeutics International, Ltd. ("Chelsea") (NASDAQ: CHTP) against
Chelsea, its Board of Directors, for, among other things,
violations of sections 14(e) and 20(a) of the U.S. Securities and
Exchange Act of 1934 (the "Exchange Act") and U.S. Securities and
Exchange Commission Rule 14a-9 promulgated thereunder.
The complaint arises out of a May 8,
2014 press release announcing that Chelsea had entered into
a definitive merger agreement with H. Lundbeck A/S, pursuant to
which Chelsea shareholders would receive through a tender offer,
$6.44 in cash for each share of
Chelsea owned, as well as contingent value rights that may pay up
to a total of an additional $1.50 per
share upon achievement of certain commercial milestones over the
next several years (the "Proposed Transaction"). The
complaint seeks injunctive relief on behalf of the named plaintiff
and all other similarly situated shareholders of Chelsea as of
May 8, 2014 (the "Class"). The
named plaintiff is represented by Robbins Arroyo LLP.
The named plaintiff alleges that certain of the defendants, in
connection with the Proposed Transaction, breached or aided and
abetted the other defendants' breaches of their duties and
obligations owed to Chelsea shareholders. The complaint
further alleges that, in an attempt to secure shareholder approval
of the Proposed Transaction, the defendants filed a materially
false and misleading preliminary proxy statement on Form 14D-9 with
the U.S. Securities and Exchange Commission in violation of the
Exchange Act and their duties of candor and full disclosure. The
omitted and/or misrepresented information is believed to be
material to Chelsea shareholders' ability to make an informed
decision whether to approve the Proposed Transaction.
If you wish to serve as lead plaintiff, you must move the Court
no later than sixty days from June 2,
2014. If you wish to discuss this action or have any
questions concerning this notice or your rights or interests,
please contact attorney Darnell R.
Donahue of Robbins Arroyo LLP at 800-350-6003, via the
shareholder information form on our website, or by e-mail at
info@robbinsarroyo.com. Any member of the Class may move the
Court to serve as lead plaintiff through counsel of their choice,
or may choose to do nothing and remain an absent Class member.
Robbins Arroyo LLP, a nationally recognized leader in the area
of shareholder rights litigation, represents individual and
institutional investors in securities class action lawsuits and
shareholder derivative actions. Robbins Arroyo LLP has helped
its clients realize more than $1
billion of value for themselves and the companies in which
they have invested. Past results do not guarantee similar
outcomes. For more information about the firm, please go to
http://www.robbinsarroyo.com.
Press release link:
http://www.robbinsarroyo.com/shareholders-rights-blog/chelsea-therapeutics/
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
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SOURCE Robbins Arroyo LLP.