Foamix Pharmaceuticals Ltd.
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FOAMIX MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF FOAMIX PHARMACEUTICALS LTD. IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – FOMX
November 11, 2019.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the proposed merger between Foamix Pharmaceuticals Ltd. (NASDAQ: FOMX) and Menlo Therapeutics Inc. (“Menlo”) is fair to Foamix shareholders. On behalf of Foamix shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
Under the terms of the merger agreement, each share of Foamix stock will be exchanged for 0.5924 of a share of Menlo common stock and a contingent stock right (“CSR”). The exchange ratio or CSR may result in the delivery of additional shares of Menlo common stock to Foamix shareholders dependent upon the Phase III trial results for serlopitant for the treatment of pruritus in PN.
The Foamix merger investigation concerns whether Foamix and its Board of Directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to: (1) obtain the best possible price for Foamix shareholders; (2) determine whether Menlo is underpaying for Foamix; and (3) disclose all material information necessary for Foamix shareholders to adequately assess and value the merger consideration.
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