NEW YORK, July 15, 2015 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Receptos, Inc. ("Receptos" or the "Company") (NASDAQ: RCPT) concerning the proposed acquisition of the Company by Celgene Corporation ("Celgene") (NASDAQ: CELG).
Under the terms of the offer, Celgene would acquire Receptos in a transaction valued at approximately $7.2 billion. Pursuant to the deal, Receptos stockholders would receive $232.00 in cash for each share of Receptos owned. According to Yahoo Finance, at least one analyst has set a target price for Receptos stock of $348 per share.
Our investigation concerns whether the Receptos board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company stockholders.
If you own Receptos shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Benjamin I Sachs-Michaels, Esq.
Robert I. Harwood, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
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Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP