BALA CYNWYD, PA / ACCESSWIRE / May 10, 2018 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of ARMO Biosciences, Inc. ("ARMO'' or "the Company") (NASDAQ:ARMO - News) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Eli Lilly and Company (''Eli Lilly'').
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Under the terms of the transaction, ARMO shareholders will receive only $50.00 in cash for each share of ARMO stock they own. The investigation concerns whether the Board of ARMO breached their fiduciary duties to shareholders and whether Eli Lilly is underpaying for the Company. The transaction may undervalue the Company given the potential earnings of ARMO's cancer drug candidate Pegilodecakin. ARMO only went public only four months ago and the price being paid is below both the $53.65 per share the stock has traded at and an analyst price target of $75.00 per share.
If you own shares of ARMO 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, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/armo-biosciences-inc-nasdaq-armo/, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC 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