A lawsuit was filed for investors in shares of Senomyx, Inc. (NASDAQ: SNMX) in connection with the proposed takeover and NASDAQ: SNMX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/27/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Senomyx, Inc. (NASDAQ: SNMX), filed a lawsuit against the takeover of Senomyx, Inc. by Firmenichis.
Investors who purchased shares of Senomyx, Inc. (NASDAQ: SNMX) and currently hold any of those NASDAQ: SNMX 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: SNMX stockholders by agreeing to sell Senomyx, Inc. cheaply via an unfair process.
San Diego, CA based Senomyx, Inc. discovers, develops, and commercializes flavor ingredients and natural high intensity sweeteners primarily for the packaged food, beverage, and ingredient supply industries in the United States.
On September 17, 2018, Firmenich and Senomyx, Inc. (NASDAQ: SNMX) announced that they have entered into a definitive merger agreement under which Firmenich will acquire all of the outstanding common stock of Senomyx for $1.50 per share in cash.
However, plaintiff claims that the proposed consideration NASDAQ: SNMX shareholders will receive is grossly inadequate and undervalues Senomyx, Inc. Indeed, shares of Senomyx, Inc. (NASDAQ: SNMX) reached in December 2017 as high as $1.67 per share. Senomyx, Inc. (NASDAQ: SNMX) reported that its annual Total Revenue rose from $23.03 million in 2016 to $29.32 million in 2017 and that its Net Loss declined from $10.68 million in 2016 to $1.26 million in 2017. In addition, the plaintiff alleges that the process is also unfair Senomyx, Inc stockholders
Shares of Senomyx, Inc. (NASDAQ: SNMX) closed on September 27, 2018, $1.48 per share.
Those who are current investors in Senomyx, Inc. (NASDAQ: SNMX) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
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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