DALLAS -- (Business Wire)
Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers
Taylor, LLP are investigating potential legal claims against the
Board of Directors of Cornerstone Therapeutics, Inc. (“Cornerstone”)
(Nasdaq: CRTX) related to a going private proposal by Chiesi
Farmaceutici SpA (“Chiesi”) for shareholders. Under the terms of the
going private proposal, Chiesi (which currently owns approximately 60%
of the common stock) would acquire all outstanding shares of
Cornerstone’s common stock for between $6.40 and $6.70 per share. The
proposed acquisition price is well below at least one analyst’s
estimated value of $14.00 per share and the 52-week high of $7.99.
If you are an affected investor, and you want to learn more about the
lawsuit or join the action, please contact Willie Briscoe at The Briscoe
Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com
or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via
e-mail at firstname.lastname@example.org.
There is no cost or fee to you.
According to shareholder rights attorney Willie Briscoe, “The
investigation relates to the fairness of the proposed transaction to
Cornerstone shareholders and whether the Board of Directors is
adequately shopping the company in order to obtain the best possible
price for the shareholders. In addition, the firms are actively
investigating possible breaches of fiduciary duty and other violations
of state law by the Board of Directors of Cornerstone in connection with
the potential approval of this transaction, and whether Cornerstone’s
Board of Directors is acting in the shareholders’ best interests.”
Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Taylor, LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
The Briscoe Law Firm, PLLC
Willie Briscoe, 214-239-4568
Zach Groover, 877-728-9607
Source: Powers Taylor, LLP
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