A lawsuit was filed for investors in shares of Cascadian Therapeutics Inc (USA) (NASDAQ:CASC) in connection with the proposed takeover and NASDAQ:CASC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/09/2018 -- The Shareholders Foundation announces that an investor in NASDAQ:CASC shares filed a lawsuit against the acquisition of Cascadian Therapeutics Inc by Seattle Genetics, Inc for $10.00 per share.
Investors who purchased shares of Cascadian Therapeutics Inc (USA) (NASDAQ:CASC) and currently hold any of those NASDAQ:CASC 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:CASC stockholders by agreeing to sell Cascadian Therapeutics Inc cheaply via an unfair process to Seattle Genetics, Inc
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, plaintiff claims that the proposed consideration NASDAQ:CASC shareholders will receive is grossly inadequate and undervalues Cascadian Therapeutics Inc. In addition, the plaintiff alleges that the process is also unfair NASDAQ:CASC stockholders
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