NEW YORK, Jan. 9, 2023 /PRNewswire/ -- Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of CinCor Pharma, Inc. ("CinCor" or the "Company") (NASDAQ: CINC), in connection with the proposed acquisition of the Company by AstraZeneca PLC (NASDAQ: AZN) via tender offer. Under the terms of the merger agreement, the Company's shareholders will receive $26.00 in cash for each share of CinCor common stock owned, plus a non-tradable contingent value right ("CVR") of $10.00.
If you own CinCor shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
https://www.weisslaw.co/news-and-cases/cinc
Or please contact:
Joshua Rubin, Esq.
Weiss Law
305 Broadway, 7th Floor
New York, NY 10007
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Weiss Law is investigating whether (i) CinCor's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the $26.00 per share merger consideration adequately compensates CinCor's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. Notably, the merger consideration is below the $30 median price target set by analysts, and at least one analyst set a price target for the Company of $50 per share, $24.00 above the per-share merger consideration.
Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com
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