NEW YORK, Nov. 5, 2018 /PRNewswire/ -- Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for the District of Delaware, Case No.1:18-cv-01589-LPS, on behalf of public common shareholders of Keryx Biopharmaceuticals, Inc. ("Keryx" or the "Company") (KERX) who held Keryx securities on the record date October 22, 2018 (the "Class Period"), and have been harmed by Keryx and its board of directors' (the "Board") alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the sale of the Company to Akebia Therapeutics (the "Proposed Transaction").
Under the terms of the Merger Agreement, Keryx shareholders are only anticipated to receive 0.37433 shares of Akebia for each share of Keryx common stock they hold (the "Merger Consideration"). The complaint alleges that the Merger Consideration is inadequate and that the proxy statement regarding the Proposed Transaction (the "Proxy') provides shareholders with materially incomplete and misleading information about the Proposed Transaction, in violation of Sections 14(a) and 20(a) of the Exchange Act. In particular, the complaint alleges that the Proxy contains materially incomplete and misleading information concerning: (i) financial projections for Keryx; (ii) the valuation analyses conducted by MTS Securities, LLC ("MTS Securities"), an affiliate of the Company's financial advisor, MTS Health Partners, L.P., in support of its fairness opinion; and (iii) the Board's potential conflict of interest. The special meeting of Keryx stockholders to vote on the Proposed Transaction is currently scheduled for December 11, 2018.
If you wish to serve as lead plaintiff, you must move the Court no later than January 4, 2018. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Click here for more information: https://monteverdelaw.com/case/keryx-biopharmaceuticals-inc. It is free and there is no cost or obligation to you.
Monteverde & Associates PC is a national class action securities and consumer litigation law firm committed that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates PC lawyers have significant experience litigating mergers & acquisitions and securities class actions, whereby they protect investors by recovering money and remedying corporate misconduct. Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013 and 2017, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017 Top Rated Lawyer.
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
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