An investigation on behalf of investors of Vitae Pharmaceuticals Inc (NASDAQ:VTAE) in connection with the proposed takeover was announced and NASDAQ:VTAE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/19/2016 -- The acquisition of Vitae Pharmaceuticals Inc is under investigation over potential wrongdoing. The investigation was announced on behalf of investors, who currently hold shares of Vitae Pharmaceuticals Inc (NASDAQ:VTAE), concerning whether the takeover of Vitae Pharmaceuticals Inc by Allergan plc is unfair.
Investors who purchased shares of Vitae Pharmaceuticals Inc (NASDAQ:VTAE) and currently hold any of those NASDAQ:VTAE shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Vitae Pharmaceuticals Inc breached their fiduciary duties owed to NASDAQ:VTAE investors in connection with the proposed acquisition.
On September 14, 2016, Allergan plc (NYSE:AGN) and Vitae Pharmaceuticals Inc (NASDAQ:VTAE) announced that they have entered into an agreement under which Allergan will acquire Vitae Pharmaceuticals Inc (NASDAQ:VTAE) for $21.00 per share, in cash, for a total transaction value of approximately $639 million.
However, the investigation concerns whether the offer is unfair to NASDAQ:VTAE stockholders. More specifically, the investigation concerns whether the Vitae Pharmaceuticals 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.
Shares of Vitae Pharmaceuticals Inc (NASDAQ:VTAE) reached in December 2014 as high as $22.01 per share,
On September 16, 2016, NASDAQ: VTAE shares closed at $20.95 per share.
Those who are current investors in Vitae Pharmaceuticals Inc 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