SAN DIEGO, May 4, 2020 /PRNewswire/ --
Shareholder rights law firm Johnson Fistel, LLP has launched an
investigation into whether the board members of Stemline
Therapeutics, Inc. (NASDAQ: STML) ("Stemline" or the
"Company") breached their fiduciary duties in connection with the
proposed sale of the Company to Menarini Group.
On May 4, 2020, Stemline announced
that it had signed a definitive merger agreement with Menarini
Group. Under the terms of the deal, Stemline shareholders will
receive $11.50 in cash and one
non-tradeable Contingent Value Right or CVR that entitles the
holder to an additional $1 in cash
upon completion of the first sale of Elzonris in any EU5 country
after European Commission approval.
The investigation concerns whether the Stemline board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for Stemline
shares of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given
one Wall Street analyst has a $41.00
price target on the stock. The 52-week high for Stemline was
$18.22.
If you are a shareholder of Stemline and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation, please contact lead analyst
Jim Baker (jimb@johnsonfistel.com)
at 619-814-4471. If emailing, please include a
phone number.
Additionally, you can [Click here to join this
action]. There is no cost or obligation to
you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York, and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
https://www.johnsonfistel.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP