Energy News / Shareholders Foundation, Inc.

NASDAQ:CASC Investor Notice : Lawsuit Filed in Effort to Halt the Takeover of Cascadian Therapeutics Inc (USA)

Via: ReleaseWire

Updated 10:52 AM CST, Fri, March 09,2018

A lawsuit was filed for investors in shares of Cascadian Therapeutics Inc (USA) (NASDAQ:CASC) in connection with the proposed takeover and NASDAQ:CASC stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 03/09/2018 -- The Shareholders Foundation announces that an investor in NASDAQ:CASC shares filed a lawsuit against the acquisition of Cascadian Therapeutics Inc by Seattle Genetics, Inc for $10.00 per share.

Investors who purchased shares of Cascadian Therapeutics Inc (USA) (NASDAQ:CASC) and currently hold any of those NASDAQ:CASC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:CASC stockholders by agreeing to sell Cascadian Therapeutics Inc cheaply via an unfair process to Seattle Genetics, Inc

On January 31, 2018, Seattle Genetics, Inc. (Nasdaq:SGEN) and Cascadian Therapeutics, Inc.(Nasdaq:CASC) announced the signing of a merger agreement under which Seattle Genetics has agreed to acquire Cascadian Therapeutics. Under the terms of the agreement, Seattle Genetics will pay $10.00 per share in cash, or approximately $614 million.

However, plaintiff claims that the proposed consideration NASDAQ:CASC shareholders will receive is grossly inadequate and undervalues Cascadian Therapeutics Inc. In addition, the plaintiff alleges that the process is also unfair NASDAQ:CASC stockholders

Those who are current investors in Cascadian Therapeutics Inc (USA) (NASDAQ:CASC) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/nasdaqcasc-investor-notice-lawsuit-filed-in-effort-to-halt-the-takeover-of-cascadian-therapeutics-inc-usa-946756.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com