NEW YORK, May 5, 2020 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Stemline
Therapeutics, Inc. ("STML" or the "Company") (NASDAQ: STML) in
connection with the proposed acquisition of the Company by Menarini
Group ("Menarini"), a privately-held pharmaceutical company based
in Italy. Under the terms of the acquisition agreement,
shareholders will be offered a total potential consideration of
$12.50 consisting of an upfront
payment of $11.50 in cash and a
contingent value right appraised at $1.00 for each STML share they own.
If you own STML shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://www.weisslawllp.com/stemline-therapeutics-inc/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether STML's board acted to maximize
shareholder value prior to entering into the acquisition
agreement. Notably, numerous analysts set target prices above
the total potential consideration, with an average target price of
$17.64, or $5.14 above the total potential
consideration. Additionally, the Company's CCO underscored
the success of its drug ELZONRIS, saying "we are very pleased with
the solid demand we generated for ELZONRIS in the first year of
launch and look to expand our reach in the market as we continue to
build a strong commercial foundation."
Given these facts, WeissLaw is concerned whether the proposed
acquisition undervalues the Company, and whether all material
information related to the proposed acquisition is fully and fairly
disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP