BALA CYNWYD, Pa., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
Acer Therapeutics Inc. (Nasdaq - ACER)
Under the terms of the Agreement, Acer will be acquired by Zevra Therapeutics, Inc. (“Zevra”) (Nasdaq - ZVRA). At closing, Zevra would issue 0.121 of a share of Zevra’s common stock in respect of each share of Acer’s common stock. In addition, Acer stockholders of record as of immediately prior to the effective time of the merger would receive non-transferable CVRs entitling the holders to receive up to $34 million in cash upon the achievement of certain commercial milestones for OLPRUVA, and up to an additional $42 million in cash upon the achievement of certain regulatory milestones for OLPRUVA and EDSIVO. The investigation concerns whether the Acer Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Zevra is paying fair value to shareholders of the Company.
Additional information can be found at: https://www.brodskysmith.com/cases/acer-therapeutics-inc-nasdaq-acer-2/.
Sovos Brands, Inc. (Nasdaq - SOVO)
Under the terms of the agreement, Sovos will be acquired by Campbell Soup Company (NYSE - CPB). Each share of Sovos common stock will be entitled to receive $23.00 per share in cash, representing a total enterprise value of approximately $2.7 billion. The investigation concerns whether the Sovos Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Campbell Soup is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/sovos-brands-inc-nasdaq-sovo/.
Computer Task Group, Incorporated (Nasdaq - CTG)
Under the terms of the agreement, CTG will be acquired by Cegeka Groep nv (“Cegeka”). CTG shareholders will receive $10.50 per share of common stock in an all-cash transaction, representing an implied equity value of approximately $170 million. The investigation concerns whether the CTG Board breached its fiduciary duties to shareholders by failing to conduct a fair process resulting in Cegeka paying less than full value for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/computer-task-group-incorporated-nasdaq-ctg/.
Decibel Therapeutics, Inc. (Nasdaq - DBTX)
Under the terms of the Merger Agreement, Decibel will be acquired by Regeneron Pharmaceuticals, Inc. (Nasdaq - REGN). Decibel shareholders will receive $4.00 per share of Decibel common stock payable in cash at closing, with an additional non-tradeable contingent value right (CVR) to receive up to $3.50 per share in cash upon achievement of certain clinical development and regulatory milestones for Decibel’s lead investigational candidate, DB-OTO, within specified time periods. The proposed acquisition values Decibel at a total equity value of approximately $109 million based on the amount payable at closing, and a total equity value of up to approximately $213 million if the CVR milestones are achieved. The investigation concerns whether the Decibel Board breached its fiduciary duties to shareholders by failing to conduct a fair process resulting in Regeneron paying less than full value for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/decibel-therapeutics-inc-nasdaq-dbtx/.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
