NEW YORK, Nov. 21, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Proteon Therapeutics, Inc. ("PRTO" or the "Company") (PRTO) in connection with the proposed acquisition of the Company by ArTara Therapeutics, Inc.
If you own PRTO shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether PRTO's Board acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, at close of the transaction, PRTO shareholders will own a meager 10% of the combined company.
Additionally, the Company recently announced significant improvements in its financial results for the third quarter of 2019. It reported a net loss of $1.5 million, representing an improvement of $3.00 million year-over-year when compared to the $4.5 million it reported in the same period of the previous year.
Given these facts, WeissLaw is concerned whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
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 email@example.com
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