An investigation on behalf of investors of SteadyMed Ltd. (NASDAQ: STDY) in connection with the proposed takeover was announced and NASDAQ: STDY stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/08/2018 -- The takeover of SteadyMed Ltd. is under investigation concerning whether the takeover of SteadyMed Ltd. is unfair to NASDAQ: STDY stockholders.
Investors who purchased shares of SteadyMed Ltd. (NASDAQ: STDY) and currently hold any of those NASDAQ: STDY shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of SteadyMed Ltd. breached their fiduciary duties owed to NASDAQ: STDY investors in connection with the proposed acquisition.
On April 30, 2018, United Therapeutics Corporation (NASDAQ:UTHR) and SteadyMed Ltd. (NASDAQ: STDY) announced the signing of a merger agreement under which United Therapeutics will acquire SteadyMed Ltd. (NASDAQ: STDY) for $4.46 per share in cash at closing and an additional $2.63 per share in cash upon the achievement of a milestone related to the commercialization of Trevyent®.
However, given that at least one analyst has set the high target price for NASDAQ:STDY shares at $15.00 per share, the investigation concerns whether the offer is unfair to SteadyMed Ltd. (NASDAQ: STDY stockholders.
In addition, given that certain SteadyMed Ltd. (NASDAQ: STDY) shareholders owning approximately 43.3 percent of the ordinary shares of SteadyMed have already entered into an agreement to vote their shares in favor of the transaction, the investigation concerns whether the SteadyMed Ltd. (NASDAQ: STDY Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in SteadyMed Ltd. (NASDAQ: STDY) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com