Newman Ferrara LLP Announces Investigation of Chelsea Therapeutics International Ltd.
09 Maggio 2014 - 4:08PM
Business Wire
Newman Ferrara LLP is investigating potential claims against the
board of directors of Chelsea Therapeutics International
(“Chelsea”) (Nasdaq: CHTP) concerning the proposed sale of Chelsea
to Danish corporation H. Lundbeck A/S (“Lundbeck”).
On May 8, 2014, Chelsea announced that it had entered into an
agreement and plan of merger to be acquired by Lundbeck pursuant to
which, Chelsea stockholders will receive only $6.44 in cash for
each share of Chelsea stock owned. The proposed deal also includes
a Contingent Value Right of up to $1.50 per share. However, Chelsea
common stock has traded at above the $6.44 per share offer price as
recently as February 19, 2014, when it traded at $6.83 per
share.
Newman Ferrara LLP’s investigation concerns whether Chelsea’s
Board of Directors has breached its fiduciary duties to act in the
best interests of Chelsea’s shareholders and to take all necessary
steps to ensure that Chelsea’s shareholders receive the maximum
value readily available for their shares of Chelsea common
stock.
Concerned investors may contact Newman Ferrara attorney Roy
Shimon at rshimon@nfllp.com to discuss this investigation, their
rights, or potential remedies.
Newman Ferrara maintains a multifaceted practice based in New
York City with attorneys specializing in complex commercial and
multi-party litigation, securities fraud and shareholder
litigation, consumer protection, civil rights, and real estate. For
more information, please visit the firm website at
www.nfllp.com.
Newman Ferrara LLPRoy Shimon, 212-619-5400rshimon@nfllp.com
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