|[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.
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
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 firstname.lastname@example.org
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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