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TMCNet:  CHELSEA THERAPEUTICS ALERT: Johnson & Weaver Investigating the Proposed Sale of Chelsea Therapeutics International, Ltd.

[May 08, 2014]

CHELSEA THERAPEUTICS ALERT: Johnson & Weaver Investigating the Proposed Sale of Chelsea Therapeutics International, Ltd.

SAN DIEGO --(Business Wire)--

Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Chelsea Therapeutics International, Ltd. (NASDAQ: CHPT) breached their fiduciary duties in connection with the proposed sale of the Company to H. Ludbeck A/S.

Additional Information:

Chelsea Therapeutics is a development stage pharmaceutical company, focused on the acquisition, development, and commercialization of pharmaceutical products for the treatment of various human diseases.

On May 8, 2014, Chelsea and H. Ludbeck entered into an agreement whereby H. Ludbeck will acquire Chelsea. Under the terms of the transaction, Chelsea Therapeutics shareholders will receive $6.44 and contingent value rights that may pay up to $1.50 for each share of Chelsea Therapeutics stock they own.

Johnson & Weaver, LLP is investigating whether the proposed deal terms epresent adequate consideration, especially given the Company's recent FDA approval of NORTHERA. NORTHERA is a promising treatment for symptomatic neurogenic orthostatic hypotension. A price target of $12.00 was initiated by at least one analyst covering the stock.


Johnson & Weaver is also investigating whether the Company's directors thoroughly considered alternatives to the proposed acquisition, such as continuing on as an independent company or pursuing a deal with another company.

If you are a shareholder of Chelsea Therapeutics and believe 1) the proposed deal is too vague and the contingent terms are not acceptable or 2) the deal favors the officers and directors and not the shareholders or 3) you are interested in learning more about the investigation or your legal rights and remedies, please contact Johnson & Weaver's lead analyst Jim Baker at jimb@johnsonandweaver.com or 619-814-4471.

About Johnson & Weaver, LLP:

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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