A lawsuit was filed for investors in shares of Nightstar Therapeutics plc (NASDAQ: NITE) in connection with the proposed takeover and Nightstar Therapeutics plc (NASDAQ: NITE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/02/2019 -- The Shareholders Foundation announced that an investor, who currently holds shares of Nightstar Therapeutics plc (NASDAQ: NITE), filed a lawsuit against the takeover of Nightstar Therapeutics plc.
Investors who purchased shares of Nightstar Therapeutics plc (NASDAQ: NITE) and currently hold any of those NASDAQ: NITE shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: NITE stockholders by agreeing to sell Nightstar Therapeutics plc cheaply via an unfair process.
Nightstar Therapeutics plc, a clinical-stage gene therapy company, focuses on developing and commercializing novel one-time treatments for patients suffering from rare inherited retinal diseases in the United Kingdom. On March 04, 2019, Nightstar Therapeutics plc ("Nightstar") (NASDAQ: NITE) and Biogen Inc. announced that they have reached agreement on the terms of a recommended acquisition whereby the entire issued and to be issued share capital of Nightstar Therapeutics plc will be acquired by Tungsten Bidco Limited (a newly-incorporated company and wholly-owned subsidiary of Biogen Switzerland Holdings GmhH ("Bidder"). Under the terms of the Acquisition, Nightstar Shareholders will be entitled to receive USD 25.50 in cash for each Nightstar Share.
However, plaintiff claims that the proposed consideration NASDAQ: NITE shareholders will receive is grossly inadequate and undervalues Nightstar Therapeutics. Indeed, at least one analyst has set the high target price for NASDAQ: NITE shares at $30.00 per share. In addition, the plaintiff alleges that the process is also unfair NASDAQ: NITE stockholders.
Those who are current investors in Nightstar Therapeutics plc (NASDAQ: NITE) shares have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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