According to a law firm press release, the Complaint alleges that on September 12, 2016, Raptor and Horizon Pharma Public Limited Company (“Horizon”) announced a definitive agreement and plan of merger pursuant to which Horizon will acquire each outstanding common share of Raptor for $9 per share in cash (the “Merger”). While the 50-day ($6.52) and 200-day ($5.19) moving averages for Raptor stock were below the $9/share transaction price prior to the Merger’s announcement, a closer look reveals that previously, shares of Raptor had consistently traded at or above the $9/share mark since 2013.

The Complaint alleges that the proposed Merger fails to reflect Raptor’s true value. Analyst expectations, historical trading prices, Raptor’s recent results, and an exciting pipeline of products that are either in the market already and/or coming soon to market demonstrate that the Merger undervalues the Company.

This case was voluntarily dismissed on December 2, 2016.