SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Concert Pharmaceuticals, Inc. (Nasdaq – CNCE)
BALA CYNWYD – January 19, 2023 /Newsfile/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Concert Pharmaceuticals, Inc. (“Concert” or the “Company”) (Nasdaq – CNE) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s agreement to be acquired by Sun Pharmaceutical Industries Limited (“Sun Pharma”). Under the terms of the deal, Sun Pharma will acquire all outstanding shares of Concert through a tender offer for an upfront payment of $8.00 per share of common stock in cash, or $576 million in equity value. Concert stockholders will also receive a non-tradeable contingent value right (CVR) entitling holders to receive up to an additional $3.50 per share of common stock in cash payable upon deuruxolitinib achieving certain net sales milestones.
The investigation concerns whether the Concert Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Sun Pharma is paying too little for the Company.
If you own shares of Concert stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.