SAN DIEGO, April 30, 2018 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of SteadyMed Ltd. (NASDAQ: STDY)
("SteadyMed") breached their fiduciary duties in connection with
the proposed sale of the Company to United Therapeutics
Corporation ("United Therapeutics"). SteadyMed operates as a
specialty pharmaceutical company that focuses on the development
and commercialization of drug product candidates for the treatment
of orphan and other diseases with unmet parenteral delivery
needs.
On April 30, 2018, SteadyMed
announced that it had signed a definitive merger agreement with
United Therapeutics. Under the terms of the agreement, United
Therapeutics will acquire SteadyMed for $4.46 per share in cash at closing and an
additional $2.63 per share in cash
upon the achievement of a milestone related to the
commercialization of Trevyent®.
The investigation concerns whether the SteadyMed board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for SteadyMed
shares of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given
one Wall Street analyst has a $15.00
price target on the stock.
If you are a shareholder of SteadyMed and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing,
please include a phone number.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. 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.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP