Case Page

 

Case Status:    ONGOING    
On or around 09/28/2017 (Ongoing date of last review)

Filing Date: September 27, 2017

On August 9, 2017, Cempra announced that it had entered into an Agreement and Plan of Merger (the "Merger Agreement"), under which Castle Acquisition Corp., a wholly owned subsidiary of Cempra, will merge with and into Melinta, with Melinta surviving the merger as a wholly owned subsidiary of Cempra. According to the Complaint, the Merger Consideration offered to Cempra's public stockholders in the Proposed Transaction is unfair and inadequate because, among other things, the intrinsic value of the Company's common stock is materially in excess of the exchange ratio offered in the Proposed Transaction given the Company's prospects for future growth and earnings.

The Complaint alleges the Proxy filed with the SEC in connection with the Proposed Transaction misrepresents and/or omits material information that is necessary for the Company's shareholders to make an informed decision concerning whether to vote in favor of the Proposed Transaction, in violation of Sections 14(a) and 20(a) of the Exchange Act.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: CEMP
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.
COURT: M.D. North Carolina
DOCKET #: 17-CV-00870
JUDGE: Hon. Thomas D. Schroeder
DATE FILED: 09/27/2017
CLASS PERIOD START: 08/09/2017
CLASS PERIOD END: 09/27/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Monteverde & Associates PC
    350 Fifth Avenue, 59th Floor, Monteverde & Associates PC, NY 10118
    (212) 971-1341 ·
  2. Ward Black Law
    208 W. Wendover Avenue, Ward Black Law, NC 27401
    336.333.2244 336.379.9415 ·
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