Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers
Taylor LLP are investigating potential claims against the Board of
Directors of Chelsea Therapeutics (“Chelsea”) (NasdaqCM: CHTP)
concerning the proposed acquisition by H. Lundbeck. Under the
acquisition proposal, valued at approximately $658 million, Chelsea
shareholders will only receive $6.44 in cash per share owned and
contingent value rights worth up to $1.50. The total possible
consideration of $7.94 is well below at least one analyst’s estimated
value of $12 per share.
If you are an affected investor, and you want to learn more about the
investigation or if you have information that you believe would be
helpful to the determination of the fairness of the proposed
transaction, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214)
239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com,
or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via
e-mail at shareholder@powerstaylor.com.
There is no cost or fee to you.
The investigation centers on whether Chelsea’s Board of Directors is
acting in the shareholders’ best interests, whether the board is
properly negotiating a higher share price for the shareholders, and
whether the board has employed an adequate process to review and act on
the proposed transaction. Notably, at least one analyst with Yahoo!
Finance believes that the true inherent value of the stock could be as
high as $12 per share.
The
Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Powers
Taylor LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
Copyright Business Wire 2014