The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty to current shareholders of Chelsea Therapeutics
International, Ltd. (“Chelsea” or the “Company”) (NasdaqCM: CHTP) and
other violations of state law by the board of directors of Chelsea
relating to the proposed buyout of the Company by H. Lundbeck A/S
(“Lundbeck”).
Under the terms of the transaction, public shareholders of Chelsea would
receive $6.44 in cash, and up to $1.50 per share in a Contingent Value
Right, for each share of Chelsea they own. According to Yahoo! Finance,
at least one analyst has set a target price for Chelsea stock at $12.00
per share. The firm’s investigation seeks to determine, among other
things, whether the Company’s board of directors breached their
fiduciary duties by failing to maximize shareholder value before
agreeing to enter into this transaction, and whether Lundbeck is
underpaying for Chelsea shares.
If you currently own common stock of Chelsea and would like to learn
more about the investigation being conducted by Brower Piven, without
cost or obligation to you, click here: http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616. Attorneys at Brower Piven together
have more than a century of experience litigating securities and other
class action cases.
Copyright Business Wire 2014