Cases
Principia Biopharma Inc.
Merger
Overview
Overview
- Date:
- 8/17/2020
- Case Caption:
- Wolfson v. Principia Biopharma Inc., et al.
- Stock Symbol:
- PRNB
- Company Name - Buyer:
- Sanofi
- Stock Symbol - Buyer:
- SNY
- Status:
- Filed
- Merger Announcement Date:
- 8/17/2020
- Filing Date:
- 9/16/2020
- Court:
- U.S. District Court: Northern California
NEW YORK, August 17, 2020 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Principia Biopharma Inc. (NASDAQ: PRNB) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Sanofi (NASDAQ: SNY).
On August 17, 2020, Principia announced that it had signed an agreement to be acquired by Sanofi for approximately $3.68 billion. Pursuant to the merger agreement, Principia’s stockholders will receive $100 in cash for each share of Principia common stock owned. The deal is scheduled to close in the fourth quarter of 2020.
Bragar Eagel & Squire is concerned that Principia’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Principia’s stockholders.
On August 17, 2020, Principia announced that it had signed an agreement to be acquired by Sanofi for approximately $3.68 billion. Pursuant to the merger agreement, Principia’s stockholders will receive $100 in cash for each share of Principia common stock owned. The deal is scheduled to close in the fourth quarter of 2020.
Bragar Eagel & Squire is concerned that Principia’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Principia’s stockholders.
Case Updates
Case Files
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Wolfson v. Principia Biopharma Inc., et al.