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Relypsa, Inc.

Case Summary

Relypsa, Inc. Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 08/15/2016 (Ongoing date of last review)

Filing Date: August 12, 2016

According to a law firm's press release, the Complaint alleges that Relypsa’s Board of Directors (the “Board”) forced through a sale of the Company in order to reap personal benefits they negotiated with Galenica AG, and Vifor Pharma USA Inc. (collectively, the “Buyer”) to the detriment of Relypsa’s public stockholders. According to the Complaint, the Board pushed through a merger pursuant to which the Buyer plans to acquire 100% of the outstanding shares of Relypsa common stock through an all-cash tender offer (the “Tender Offer”) followed by a second-step merger (the “Proposed Transaction”). Further, the Buyer has offered Relypsa investors $32.00 per share in cash, or a total of approximately $1.53 billion (the “Offer Price” or “Merger Consideration”). The Complaint also alleges that the Proposed Transaction undervalues Relypsa’s prospects and is the result of an unfair, truncated and conflicted sale process. Indeed, even after the transaction was announced both Wedbush and Guggenheim put price targets on the Company of $51.00 and $49.00 per share respectively, well above the inadequate $32.00 Offer Price.

Company & Securities Information

Defendant: Relypsa, Inc.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: RLYP
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.

First Identified Complaint

Danny Lu, et al. v. Relypsa, Inc., et al.

COURT: N.D. California
DOCKET #: 16-CV-04605
JUDGE: Hon. William H. Orrick
DATE FILED: 08/12/2016
CLASS PERIOD START: 07/21/2016
CLASS PERIOD END: 08/12/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Faruqi & Faruqi LLP (Los Angeles)
    10866 Wilshire Boulevard Suite 1470, Faruqi & Faruqi LLP (Los Angeles), CA 90067
    (424) 256-2884 (424) 256-2885 ·
  2. Monteverde & Associates PC
    350 Fifth Avenue, 59th Floor, Monteverde & Associates PC, NY 10118
    (212) 971-1341 ·
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint For Violations Of Sections 14(d)(4), 14(e) And 20(a) Of The Securities Exchange Act Of 1934 08/12/2016
2 U.S. District Court Civil Docket 08/15/2016
 
 

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