SAN DIEGO, Sept. 16, 2019 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of Alder BioPharmaceuticals, Inc.
(NASDAQ: ALDR) ("Alder") breached their fiduciary duties in
connection with the proposed sale of the Company to Danish
pharmaceutical company Lundbeck.
On September 16, 2019, Alder
announced that it had signed a definitive merger agreement with
Lundbeck. Under the terms of the deal, Lundbeck will buy
outstanding shares of Alders in an upfront payment of $18 per share; and one non-tradeable Contingent
Value Right that entitles shareholders to an additional
$2.00 per share if eptinezumab is
approved by the European Medicines Agency.
The investigation concerns whether the Alder 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 Alder shares
of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given
that one Wall Street analyst has a $36.00 price target on the stock.
If you are a shareholder of Alder and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
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
