SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Strongbridge Biopharma plc (Nasdaq - SBBP)
BALA CYNWYD, PA / ACCESSWIRE / May 24, 2021 / Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Strongbridge Biopharma plc ("Strongbridge" or the "Company") (Nasdaq - SBBP) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired byXeris Pharmaceuticals, Inc. (Nasdaq - XERS) for stock and contingent rights. Under the terms of the merger agreement, Strongbridge shareholders will receive a fixed exchange ratio of 0.7840 Xeris for each Strongbridge share they own. Based on the closing price of Xeris shares on May 21, 2021, this represents approximately $2.72 per Strongbridge share. Strongbridge shareholders will also receive 1 non-tradeable CVR for each Strongbridge share they own, worth up to an additional $1.00 payable in cash or Xeris shares upon achievement of certain triggering events.
The investigation concerns whether the Strongbridge Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Xeris is paying too little for the Company. For example, the deal consideration is less than the 52-week high of $4.63 for Strongbridge shares.
If you own shares of Strongbridge stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/strongbridge-biopharma-plc-nasdaq-sbbp/, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC
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