SAN DIEGO, Sept. 16, 2019 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Alder BioPharmaceuticals, Inc. (ALDR) ("Alder") breached their fiduciary duties in connection with the proposed sale of the Company to Danish pharmaceutical company Lundbeck.
On September 16, 2019, Alder announced that it had signed a definitive merger agreement with Lundbeck. Under the terms of the deal, Lundbeck will buy outstanding shares of Alders in an upfront payment of $18 per share; and one non-tradeable Contingent Value Right that entitles shareholders to an additional $2.00 per share if eptinezumab is approved by the European Medicines Agency.
The investigation concerns whether the Alder 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 Alder shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given that one Wall Street analyst has a $36.00 price target on the stock.
If you are a shareholder of Alder 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 (email@example.com) at 619-814-4471. If emailing, please include a phone number.
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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 https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
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