NEW YORK, Sept. 13, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Raptor Pharmaceutical Corp. ("RPTP" or the "Company") in connection with the proposed acquisition of the Company by Horizon Pharma Plc ("Horizon"). On September 12, 2016, the Company announced that it had reached a definitive agreement for Horizon to acquire all outstanding shares of RPTP in a transaction valued at approximately $800 million. Under the terms of the agreement, the Company's shareholders will receive $9.00 in cash for each RPTP share they own.
WeissLaw is investigating whether RPTP's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $11.00 per share, or $2.00 above the offer price. Additionally, the Company announced positive financial results for the second quarter of 2016, reporting quarterly revenue increased 37.3% year-over-year to $32.0 million. The Company also raised its net revenue guidance from $115- $125 million to $125- $135 million. Finally, upon completion of the transaction, Horizon will also gain the rights to two RPTP rare-disease drugs: Procysbi, used for the treatment of a rare metabolic disorder; and Quinsar, which is administered to cystic fibrosis patients for the treatment of chronic pulmonary infections.
Given these facts, WeissLaw is investigating whether RPTP's Board acted in the best interests of RPTP's public shareholders to maximize shareholder value prior to entering into the agreement. If you own RPTP shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP