MILWAUKEE, June 12, 2023 /PRNewswire/ -- Ademi LLP is investigating Chinook (Nasdaq: KDNY) for possible breaches of fiduciary duty and other violations of law in its transaction with Novartis.
Click here to learn how to join the action https://www.ademilaw.com/case/chinook-therapeutics-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Chinook public stockholders are expected to receive only $40 per share in cash, or a total of $3.2 billion. In addition, Chinook shareholders will receive contingent value rights (CVRs) providing for payment of up to $4 per share upon the achievement of certain future regulatory milestones with respect to Chinook's lead product candidate, atrasentan. The transaction agreement unreasonably limits competing bids for Chinook by imposing a significant penalty if Chinook accepts a superior bid. Chinook insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Chinook's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Chinook.
If you own Chinook common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/chinook-therapeutics-inc.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
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SOURCE Ademi LLP
