San Diego, CA -- (SBWire) -- 08/22/2016 --The Shareholders Foundation announced that an investor who currently holds shares of Relypsa Inc (NASDAQ:RLYP), filed a lawsuit against the proposed takeover of Relypsa Inc. by Galenica Group for $32.00 per share.
Investors who purchased shares of Relypsa Inc (NASDAQ:RLYP) and currently hold any of those NASDAQ:RLYP shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:RLYP stockholders by agreeing to sell Relypsa Inc too cheaply via an unfair process to Galenica Group.
On July 21, 2016, Galenica Group (SIX:GALN) and Relypsa, Inc.(NASDAQ:RLYP) announced that the companies have entered into an agreement under which Galenica Group will acquire Relypsa Inc (NASDAQ:RLYP). Under the terms of the merger agreement, Galenica will pay $32 per share in cash, or a total of approximately$1.53 billion.
However, plaintiff claims that the proposed consideration NASDAQ:RLYP shareholders will receive is grossly inadequate and undervalues Relypsa, Inc. Indeed, at least one analyst has set the high target price for NASDAQ:RLYP shares at $51.00 per share. In addition, the plaintiff alleges that the process is also unfair to Relypsa stockholder.
On August 19, 2016, NASDAQ:RLYP shares closed at $31.96 per share.
Those who are current investors in Relypsa 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
Lawsuit for Investors in Relypsa Inc (NASDAQ:RLYP) in Effort to Halt the Takeover by Galenica Group
A lawsuit was filed for investors in shares of Relypsa Inc (NASDAQ:RLYP) in connection with the proposed takeover was announced and NASDAQ:RLYP stockholders should contact the Shareholders Foundation.