Stemline Therapeutics Inc.
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STEMLINE MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF STEMLINE THERAPEUTICS INC. IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM
May 4, 2020.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Stemline Therapeutics Inc. (NASDAQ: STML) to Menarini Group is fair to Stemline shareholders. On behalf of Stemline 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 agreement, Stemline shareholders would receive $11.50 in cash and one non-tradeable Contingent Value Right that would entitle each holder to an additional $1.00 in cash per share upon completion of the first sale of ELZONRIS in any EU5 country after European Commission approval. On March 17, 2020, HC Wainwright reportedly set a target price for Stemline at $18.00 per share.
The Stemline merger investigation concerns whether Stemline 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 Stemline shareholders; (2) determine whether Menarini Group is underpaying for Stemline; and (3) disclose all material information necessary for Stemline shareholders to adequately assess and value the merger consideration.
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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