A lawsuit was filed for investors in shares of Endocyte, Inc. (NASDAQ: ECYT) in connection with the proposed takeover and NASDAQ: ECYT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/14/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Endocyte, Inc. (NASDAQ: ECYT), filed a lawsuit against the takeover of Endocyte, Inc.
Investors who purchased shares of Endocyte, Inc. (NASDAQ: ECYT) and currently hold any of those NASDAQ: ECYT shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: ECYT stockholders by agreeing to sell Endocyte, Inc. cheaply via an unfair process.
On October 18, 2018, Endocyte, Inc. (Nasdaq:ECYT) announced that it has entered into an agreement and plan of merger with Novartis AG pursuant to which Novartis will acquire Endocyte for $24 per share, or a total equity value of approximately $2.1 billion, in cash.
However, plaintiff claims that the proposed consideration NASDAQ: ECYT shareholders will receive is grossly inadequate and undervalues Endocyte, Inc. Indeed, at least one analyst has set the high target price for NASDAQ: ECYT shares at $25.00 per share. In addition, the plaintiff alleges that the process is also unfair Endocyte, Inc. stockholders.
Those who are current investors in Endocyte, Inc. (NASDAQ: ECYT) 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
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.