An investigation on behalf of investors of Cascadian Therapeutics Inc (USA) (NASDAQ:CASC) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 02/05/2018 -- The takeover of Cascadian Therapeutics Inc is under investigation over possible wrongdoing. The investigation was announced for investors, who currently hold NASDAQ:CASC shares, concerning whether the takeover of Cascadian Therapeutics Inc by Seattle Genetics, Inc for $10.00 per share is unfair.
Investors who purchased shares of Cascadian Therapeutics Inc (USA) (NASDAQ:CASC) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of Cascadian Therapeutics Inc breached their fiduciary duties owed to NASDAQ:CASC investors in connection with the proposed acquisition.
Seattle, WA based Cascadian Therapeutics, Inc., formerly Oncothyreon Inc., is a clinical-stage biopharmaceutical company. On January 31, 2018, Seattle Genetics, Inc. (Nasdaq:SGEN) and Cascadian Therapeutics, Inc.(Nasdaq:CASC) announced the signing of a merger agreement under which Seattle Genetics has agreed to acquire Cascadian Therapeutics. Under the terms of the agreement, Seattle Genetics will pay $10.00 per share in cash, or approximately $614 million.
However, the investigation concerns whether the offer is unfair to NASDAQ:CASC stockholders. More specifically, the investigation concerns whether the Cascadian Therapeutics 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.
On February 2, 2018 NASDAQ: CASC shares closed at $9.96 per share.
Those who are current investors in Cascadian Therapeutics Inc (USA) (NASDAQ:CASC) 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