INVESTOR ALERT: LEVI & KORSINSKY, LLP Announces Investigation of CADENCE PHARMACEUTICALS INC. and Its Board of Directors In Connection With the Sale of the Company to Mallinckrodt plc -- CADX - News, Weather and Sports for Lincoln, NE; KLKNTV.com
Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact email@example.com.
SOURCE Levi & Korsinsky, LLP
NEW YORK, Feb. 11, 2014 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Cadence Pharmaceuticals Inc. ("Cadence" or "the Company") (NasdaqGS: CADX) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Mallinckrodt plc.
Under the terms of the transaction, Cadence shareholders will receive $14.00 for each share of Cadence common stock they own. The investigation concerns whether the Cadence Board breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Mallinckrodt plc is underpaying for Cadence shares. In particular, at least one analyst set a price target for Cadence stock at $15.00 per share.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.com