On or around 12/06/2016 (Court's order of dismissal)
Filing Date: October 05, 2016
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.
Company & Securities Information
Defendant: Raptor Pharmaceutical Corp.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: RPTP
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
Roman Lavrenov, et al. v. Raptor Pharmaceutical Corp., et al.