Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Clementia Pharmaceuticals Inc. (NASDAQGS: CMTA) to Ipsen. Under the terms of the transaction, Clementia shareholders will receive US$25 per share. In addition, shareholders will receive a Contingent Value Right of US$6.00 per share payable upon completion of certain benchmarks.
The Clementia merger investigation concerns whether the Board of Clementia breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Ipsen is underpaying for Clementia shares, thus unlawfully harming Clementia shareholders. Clementia’s largest shareholder, OrbiMed Private Investments IV, LP, has already agreed to tender its shares.
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