According to the Complaint, Dova Pharmaceuticals, Inc. is a pharmaceutical company focused on acquiring, developing, and commercializing drug candidates for diseases where there is a high unmet need, with an initial
focus on addressing thrombocytopenia.
This action stems from a proposed transaction announced on September 30, 2019, pursuant to which Dova Pharmaceuticals, Inc. will be acquired by Swedish Orphan Biovitrum AB (publ).
On September 30, 2019, Dova’s Board of Directors caused the Company to enter into an agreement and plan of merger with Sobi. Pursuant to the terms of the Merger Agreement, Merger Sub commenced a tender offer to purchase all of Dova’s outstanding common stock for $27.50 in cash plus one contingent value right per share, which represents the right to receive $1.50 per share. The Tender Offer is set to expire on November 8, 2019.
On October 11, 2019, Defendants filed a Solicitation/Recommendation Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Solicitation Statement omits material information with respect to the Proposed Transaction, which renders the Solicitation Statement false and misleading.
This case was voluntarily dismissed on November 12, 2019.