NEW
YORK, Dec. 16, 2022 /PRNewswire/ -- Shareholder
rights law firm Julie & Holleman is investigating the proposed
acquisition of Myovant Sciences (NYSE: MYOV) by affiliates of its
controlling shareholder, Sumitovant Biopharma, an affiliate of
Japanese conglomerate Sumitomo. Under the terms of the deal,
Sumitovant will acquire all the outstanding shares of Myovant
common stock it does not already own for $27 per share in cash, or a total of
approximately $1.7 billion.
To learn more about the investigation, click here. There is no
cost of obligation to you.
Myovant is a biopharmaceutical company founded in 2016 that
currently has two FDA-approved products, ORGOVYX®, which helps
treat prostate cancer, and MYFEMBREE®, which is prescribed to
manage complications associated with uterine fibroids. The company
has other products that have been approved for use in the European
Union, and it is also pursuing approval of additional products or
indications in the U.S. and beyond. Since December 2019, the company's largest shareholder
has been Sumitovant or affiliated entities.
Julie & Holleman is investigating potential legal claims
available to Myovant's shareholders regarding the proposed
acquisition, including claims relating to potential conflicts
resulting from the fact that Sumitovant controls the company and
also has numerous commercial entanglements with the company.
Numerous members of Myovant's board of directors were either
designated by or affiliated with Sumitovant, which raises questions
about the board's independence. Julie & Holleman is also
concerned about the adequacy of the $27 per share acquisition price, as Myovant's
stock has traded at temporary lows due to macroeconomic pressures,
and Sumitovant is pouncing on short-term trends to acquire the
company at a steep discount.
If you would like more information about Julie & Holleman's
investigation, or about the acquisition in general, please contact
W. Scott Holleman by email at
scott@julieholleman.com or by telephone at (929) 415-1020. You may
also visit the firm's website by clicking here. There is no cost or
obligation to you.
Julie & Holleman is a boutique law firm that focuses on
shareholder litigation, including derivative actions, mergers and
acquisitions cases, securities fraud class actions, and corporate
investigations. The firm's attorneys litigate in state and federal
courts across the nation. For more information about the firm,
please visit https://www.julieholleman.com/. This notice may
constitute attorney advertising.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/myov-special-alert-julie--holleman-investigates-potential-legal-claims-related-to-take-private-acquisition-of-myovant-sciences-301704787.html
SOURCE Julie & Holleman LLP