An investigation on behalf of investors of Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP) in connection with the proposed takeover was announced and NASDAQ:SCMP stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/10/2018 -- The takeover of Sucampo Pharmaceuticals, Inc. is under investigation over potential wrongdoing. The investigation on behalf of investors, who currently hold shares of Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP).
Investors who purchased shares of Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP) and currently hold any of those NASDAQ:SCMP 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 officers and directors of Sucampo Pharmaceuticals, Inc. breached their fiduciary duties owed to NASDAQ:SCMP investors in connection with the proposed acquisition.
Rockville, MD based Sucampo Pharmaceuticals, Inc. is a biopharmaceutical company. On December 26, 2017, Mallinckrodt plc (NYSE: MNK), a leading global specialty pharmaceutical company, and Sucampo Pharmaceuticals, Inc. (NASDAQ: SCMP), a global biopharmaceutical company, today announced that they have entered into an agreement under which Mallinckrodt will acquire Sucampo, including its commercial and development assets. Under the terms of the proposed transaction Sun Acquisition Co., a subsidiary of Mallinckrodt, will commence a cash tender offer to purchase all of the outstanding shares of Sucampo Pharmaceuticals' common stock for $18.00 per share.
However, given that at least one analyst has set the high target price for NASDAQ:SCMP shares at $43.00 per share and given that NASDAQ:SCMP traded after the takeover announcement in the open market as high as $18.75 per share on Janaury 8, 2017, the investigation concerns whether the offer is unfair to NASDAQ:SCMP stockholders. In addition, given that certain Sucampo stockholders holding approximately 32% of the outstanding Sucampo shares have entered into a tender and support agreement for this transaction, the investigation concerns whether the Sucampo Pharmaceuticals, Inc. 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.
On January 9, 2018, NASDAQ:SCMP shares closed at $18.50 per share.
Those who are current investors in Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP) 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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