WeissLaw LLP Investigates the Synageva Biopharma Corp. Acquisition
NEW YORK, May 6, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of Synageva Biopharma Corp. ("GEVA" or the "Company") by Alexion Pharmaceuticals, Inc. ("Alexion") is being investigated by WeissLaw LLP, a national class action, shareholder rights law firm, for possible breaches of fiduciary duty and other violations of law by the Board of Directors of GEVA for agreeing to sell the Company to Alexion. On May 6, 2015, the Company announced a definitive agreement for Alexion to acquire GEVA in a transaction valued at $8.4 billion net of cash. Under the terms of the agreement, GEVA shareholders will receive $115 in cash and 0.6581 share of Alexion for each GEVA share they own; implying a per share value of approximately $226 based on the Tuesday closing price of Alexion shares.
WeissLaw is investigating whether GEVA's Board acted to maximize shareholder value prior to entering into the agreement. The Company has many drugs in development, including Kanuma, a drug for the treatment of lysosomal acid lipase deficiency. Decisions concerning approval from U.S. and European regulators are expected in the second half of this year. Further, in acquiring GEVA, Alexion expects annual sales of over $1 billion from Kanuma.
Given these facts, WeissLaw is investigating the Board's decision to sell GEVA and whether GEVA shareholders will obtain their fair and proportionate share of the Company's continued success and future growth prospects. If you own GEVA shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at [email protected].
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected] or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP
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