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PFENEX MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF PFENEX INC. IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – PFNX
August 11, 2020.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Pfenex Inc. (NYSE: PFNX) to Ligand Pharmaceuticals Incorporated is fair to Pfenex shareholders. Under the terms of the merger agreement, Pfenex shareholders will receive $12.00 per share in cash. In addition, Ligand will pay Pfenex shareholders $2.00 per share as a Contingent Value Right in the event a predefined regulatory milestone is achieved by December 31, 2021. On behalf of Pfenex shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
The investigation concerns whether Pfenex 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 consideration for Pfenex shareholders; (2) determine whether Ligand is underpaying for Pfenex; and (3) disclose all material information necessary for Pfenex shareholders to adequately assess and value the proposed transaction.
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
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