A lawsuit was filed for investors in shares of Bioverativ Inc (NASDAQ:BIVV) in connection with the proposed takeover and NASDAQ:BIVV stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/21/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Bioverativ Inc (NASDAQ:BIVV), filed a lawsuit in effort to halt the proposed takeover of Bioverativ Inc. by Sanofi.
Investors who purchased shares of Bioverativ Inc (NASDAQ:BIVV) and currently hold any of those NASDAQ:BIVV shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Waltham, MA based Bioverativ Inc. (Bioverativ) is a biotechnology company. The Company is focused on the discovery, research, development and commercialization of therapies for the treatment of hemophilia and other blood disorders. On January 22, 2018, Sanofi and Bioverativ Inc., have entered into an agreement under which Sanofi will acquire all of the outstanding shares of Bioverativ for $105 per share in cash, representing an equity value of approximately $11.6 billion.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:BIVV stockholders by agreeing to sell Bioverativ Inc cheaply via an unfair process to Sanofi. The plaintiff claims that the proposed consideration NASDAQ:BIVV shareholders will receive is grossly inadequate and undervalues Bioverativ Inc. Bioverativ Inc reported that its annual Total Revenue rose from $560.30 million in 2015 to $887.40 million in 2016 and that its Net Income increased from $108.60 million in 2015 to $439.60 million in 2016.In addition, the plaintiff alleges that the process is also unfair NASDAQ:BIVV stockholders.
On February 20, 2018, NASDAQ:BIVV shares closed at $103.81 per share.
Those who are current investors in Bioverativ Inc (NASDAQ:BIVV) 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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