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TMCNet:  Cadence Pharmaceuticals Shareholders Notice: Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Proposed Sale of Cadence Pharmaceuticals, Inc. to Mallinckrodt plc

[February 11, 2014]

Cadence Pharmaceuticals Shareholders Notice: Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Proposed Sale of Cadence Pharmaceuticals, Inc. to Mallinckrodt plc

SAN DIEGO --(Business Wire)--

Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of Cadence Pharmaceuticals, Inc. (NASDAQ:CADX) breached their fiduciary duties in connection with the planned sale of the Company to Mallinckrodt plc.

For more information, please contact the firm's lead analyst, Jim Baker, at jimb@johnsonandweaver.com or at (619) 230-0063.

Additional Information:

Cadence Pharmaceuticals is a biopharmaceutical company based in San Diego that focuses on acquiring, in-licensing, developing and commercializing proprietary product candidates for use in the hospital setting. Its lead product, OFIRMEV, an intravenous formulation of acetaminophen, is indicated for the management of mild to moderate pain, the management of moderate to severe pain with adjunctive opioid analgesics, and the reduction of fever.

On Fbruary 11, 2014, Cadence and Mallinckrodt announced that they had entered into a merger agreement under which Mallinckrodt will acquire Cadence for $14 per share in cash, or total of about $1.3 billion. The acquisition is structured as a tender offer and is expected to be completed by the end of March of this year.


The investigation will determine whether Cadence's directors breached their fiduciary duties to stockholders in connection with the proposed acquisition. Jim Baker, lead analyst for Johnson & Weaver, stated that, "Mallinckrodt's offer appears to be inadequate and not in the best interest of the shareholders." Baker continued, "One analyst has a target price above the $14 acquisition price. Additionally, Mallinckrodt stated that the acquisition will be immediately accretive to its fiscal 2014 diluted earnings per share and significantly accretive to the 2015 fiscal year diluted earnings per share."

If you are a Cadence shareholder and would like additional information concerning your legal rights, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at (619) 230-0063.

Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California and New York. 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 http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.


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