We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Spectrum Pharmaceuticals, Inc. (“Spectrum Pharmaceuticals” or the “Company”) (NASDAQ: SPPI), in connection with its acquisition by Assertio Holdings, Inc. (NASDAQ: ASRT) (“Assertio”). Under the merger agreement, the Company’s shareholders will receive 0.1783 shares of Assertio common stock for each of their shares, representing implied per-share consideration of $0.89 based upon Assertio’s April 26, 2023 closing price of $5.00. Additionally, Spectrum Pharmaceuticals shareholders will receive one Contingent Value Right (“CVR”) per Spectrum share entitling them to receive up to an additional $0.20 per share in total. Upon completion of the transaction, Assertio shareholders will own 65% while Spectrum Pharmaceuticals shareholders will only own 35% of the combined company.
Weiss Law is investigating whether (i) Spectrum Pharmaceuticals’ board acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per share merger consideration adequately compensates shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
September 26, 2023
We are investigating possible breaches of fiduciary duty and violations of the federal securities laws by, among others, the Board of Directors and senior officers of Origin Materials, Inc. (NASDAQ: ORGN) (“Origin” or the “Company”), concerning the Company’s business, operations, and prospects surrounding the construction of the Origin 2 commercial plant.
September 14, 2023
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.
September 11, 2023
We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Hostess Brands, Inc. (“Hostess” or the “Company”) (NASDAQ: TWNK), in connection with its acquisition by The J. M. Smucker Company (NYSE: SJM) (“Smucker”) via tender offer.