NEW YORK, July 17, 2015 /PRNewswire/ -- The fairness of the
proposed acquisition of Receptos, Inc. ("RCPT" or the "Company") by
Celgene Corporation ("Celgene") is the subject of an investigation
by WeissLaw LLP, a national class action, shareholder rights law
firm. The investigation is focusing on possible breaches of
fiduciary duty and other violations of law by the Board of
Directors of RCPT for agreeing to sell the Company to Celgene. On
July 14, 2015, the Company announced it had reached a
definitive agreement for Celgene to acquire RCPT in a transaction
valued at approximately $7.2
billion. Under the terms of the agreement, RCPT
shareholders will receive $232.00 in
cash for each RCPT share they own.
WeissLaw is investigating whether RCPT's Board acted to maximize
shareholder value prior to entering into the agreement. Prior to
the announcement, at least one analyst set a target price of
$348 per RCPT share, or $116 above the offer price. Additionally, the
Company's drug ozanimod, entering into its final trials for use,
could generate up to $6 billion in
sales.
Given these facts, WeissLaw is investigating whether RCPT's
Board acted in the best interests of RCPT's public shareholders by
actively shopping the Company to maximize shareholder value prior
to entering into the agreement with Celgene. If you own RCPT shares
and would like more information about your rights or our
investigation, or if you have information to share with us, please
contact Joshua Rubin or Kelly Keenan by telephone at (888) 593-4771
or by email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
clients and obtained important corporate governance relief in many
of these cases. If you have information or would like legal advice
concerning possible corporate wrongdoing (including insider
trading, waste of corporate assets, accounting fraud, or materially
misleading information), consumer fraud (including false
advertising, defective products, or other deceptive business
practices), or anti-trust violations, please email us at
stockinfo@weisslawllp.com or fill out the form on our
website,
http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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SOURCE WeissLaw LLP