SAN DIEGO, Aug. 18, 2020 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Principia Biopharma Inc. ("Principia " or the "Company") (NASDAQ: PRNB) breached their fiduciary duties in connection with the proposed sale of the Company to Sanofi (NASDAQ: SNY).
On August 17, 2020, Principia announced that it had entered into a definitive merger agreement with Sanofi. Under the terms of the acquisition agreement, the Company's shareholders will receive $100 per share in cash
The investigation concerns whether the Principia 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 Principia shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given one Wall Street analyst had a $130.00 price target on the stock.
If you are a shareholder of Principia 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.
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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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