Cases
Medivation, Inc. (NASDAQ : MDVN)
Merger
Overview
Overview
- Date:
- 9/12/2016
- Company Name:
- Medivation, Inc.
- Stock Symbol:
- MDVN
- Company Name - Buyer:
- Montreal, Inc.
- Class Period:
- FROM 9/7/2016
- Status:
- Closed/Complete
- Merger Announcement Date:
- 8/30/2016
- Court:
- U.S. District Court: Northern California
NEW YORK, September 12, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the California Northern District Court on behalf of all persons or entities who held Medivation, Inc. (NASDAQ: MDVN) securities on September 7, 2016 (the “Class Period”).
On August 30, 2016, Montreal, Inc., a wholly-owned subsidiary of Pfizer, commenced a tender offer for Medivation shares scheduled to expire on September 27, 2016. If a sufficient number of Medivation shares are tendered, a second-step merger will be effectuated without a shareholder vote, and Montreal, Inc. will merge with and into Medivation, with Medivation continuing as a wholly-owned subsidiary of Pfizer.
Pursuant to the terms of the Merger Agreement, which was unanimously approved by the Board, Medivation shareholders stand to receive $81.50 per share in cash for each share they own. The complaint claims that this offer is inadequate in light of the Company's intrinsic value and long-term prospects and alleges that the Schedule 14D-9 Solicitation/Recommendation Statement provides materially incomplete and misleading information about the process leading up to the Board's decision to approve the Proposed Transaction and the valuation analyses performed by the Board's financial advisors, in violation of Sections 14(d)(4), 14(e), and 20(a) of the Exchange Act.
If you held Medivation securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On August 30, 2016, Montreal, Inc., a wholly-owned subsidiary of Pfizer, commenced a tender offer for Medivation shares scheduled to expire on September 27, 2016. If a sufficient number of Medivation shares are tendered, a second-step merger will be effectuated without a shareholder vote, and Montreal, Inc. will merge with and into Medivation, with Medivation continuing as a wholly-owned subsidiary of Pfizer.
Pursuant to the terms of the Merger Agreement, which was unanimously approved by the Board, Medivation shareholders stand to receive $81.50 per share in cash for each share they own. The complaint claims that this offer is inadequate in light of the Company's intrinsic value and long-term prospects and alleges that the Schedule 14D-9 Solicitation/Recommendation Statement provides materially incomplete and misleading information about the process leading up to the Board's decision to approve the Proposed Transaction and the valuation analyses performed by the Board's financial advisors, in violation of Sections 14(d)(4), 14(e), and 20(a) of the Exchange Act.
If you held Medivation securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.