An investigation on behalf of investors of Kite Pharma Inc (NASDAQ:KITE) in connection with the proposed takeover was announced and NASDAQ:KITE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/07/2017 -- An investigation was announced for investors, who currently hold NASDAQ:KITE shares, concerning whether the takeover of Kite Pharma Inc. by Gilead Sciences, Inc is unfair.
Investors who purchased shares of Kite Pharma Inc (NASDAQ:KITE) and currently hold any of those NASDAQ:KITE shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of Kite Pharma Inc breached their fiduciary duties owed to NASDAQ:KITE investors in connection with the proposed acquisition.
On August 28, 2017, Gilead Sciences, Inc. (Nasdaq: GILD) and Kite Pharma Inc (NASDAQ:KITE) announced that the companies have entered into an agreement pursuant to which Gilead will acquire Kite Pharma Inc (NASDAQ:KITE) for $180.00 per share in cash.
However, the investigation concerns whether the offer is unfair to NASDAQ:KITE stockholders. More specifically, the investigation concerns whether the Kite Pharma Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Shares of Kite Pharma Inc (NASDAQ:KITE) closed on September 6, 2017, at $178.12 per share.
Those who are current investors in Kite Pharma Inc (NASDAQ:KITE) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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