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Case Status:    DISMISSED    
On or around 06/02/2020 (Notice of voluntarily dismissal)

Filing Date: May 20, 2020

According to the Complaint, Stemline Therapeutics, Inc. is a commercial-stage biopharmaceutical company focused on the development and commercialization of novel oncology therapeutics.

This action stems from a proposed transaction announced on May 4, 2020, pursuant to which Stemline Therapeutics, Inc. will be acquired by affiliates of A. Menarini –Industrie Farmaceutiche Riunite S.r.l.

On May 3, 2020, Stemline’s Board of Directors caused the Company to enter into an agreement and plan of merger with Berlin-Chemie AG (“Parent”) and Mercury Merger Sub, Inc. (“Merger Sub,” and together with Parent, “Berlin-Chemie”). Pursuant to the terms of the Merger Agreement, Merger Sub commenced a tender offer (the “Tender Offer”) to purchase all of Stemline’s outstanding common stock for $11.50 in cash and one contingent value right (“CVR”), which represents the right to receive $1.00 per CVR, per share. The Tender Offer is set to expire on June 9, 2020.

On May 12, 2020, 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 June 2, 2020.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: STML
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: D. Delaware
DOCKET #: 20-CV-00683
JUDGE: Hon. Leonard P. Stark
DATE FILED: 05/20/2020
CLASS PERIOD START: 05/04/2020
CLASS PERIOD END: 05/20/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Rigrodsky & Long, P.A. (Wilmington)
  2. RM Law, P.C. (Berwyn)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available