We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Sigilon Therapeutics, Inc. (“Sigilon” or the “Company”) (NASDAQ: SGTX), in connection with its proposed acquisition by Eli Lilly and Company (NYSE: LLY) via tender offer. Under the merger agreement, the Company’s shareholders will receive $14.92 per share in cash, plus one non-tradeable contingent value right ("CVR") per share that entitles the holder to receive up to an additional $111.64 per share, for a total potential consideration of up to $126.56 without interest.
Weiss Law is investigating whether (i) Sigilon’s board acted in the best interests of Company shareholders in agreeing to the merger, (ii) the $14.92 per share merger consideration adequately compensates Sigilon’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. Notably, the merger consideration is below the $21.00 low price target set by analysts and the $25.50 median price target set by analysts. At least one analyst set a price target for the Company of $30 per share, $15.08 above the merger price.
Weiss Law 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@example.com
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Weiss Law announces that on September 13, 2023, they filed a class action lawsuit in the United States District Court for the Southern District of New York (“Court”), captioned Zappia v. Myovant Sciences Ltd. et al. Case 1:23-cv-08097, on behalf of a class (“Class”) of individuals and entities that held common stock of Myovant Sciences, Ltd. (“Myovant”) as of the close of business on January 20, 2023 (“Class Period”), asserting claims under Sections 14(a) and 20(a) of the Securities Exchange Act of 1934, and Securities and Exchange Commission Rule 14a-9, in connection with the acquisition of Myovant Sciences, Ltd. by Sumitovant Biopharma Ltd. for an unfair price.
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