NEW YORK, March 13, 2018 /PRNewswire/ -- Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for The District of Delaware, Case No. 1:18-cv-00301, on behalf of shareholders of Alliqua BioMedical, Inc., ("Alliqua" or the "Company") (NASDAQ: ALQA) who held Alliqua securities and have been harmed by Alliqua and its Board of Directors (the "Board") for alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the sale of all or substantially all of the Company's assets, including certain assets comprising its MIST, Biovance, and Interfyl product lines (the "Purchased Assets"), to Celularity Inc. ("Celularity").
Under the terms of the asset purchase agreement (the "Agreement"), Alliqua will receive $29 million in cash for the Purchased Assets (the "Asset Consideration"). The complaint alleges that this offer is inadequate and that the Preliminary Proxy Statement on a Schedule 14A (the "Proxy") provides materially incomplete and misleading information about the Company's financials and the transaction, in violation of Sections 14(a) and 20(a) of the Exchange Act. Specifically, the Proxy contains materially incomplete and misleading information concerning: (i) the valuation analyses conducted by the Company's financial advisor, Cowen and Company, LLC ("Cowen"), in support of its fairness opinion; and (ii) the background process leading up to the Agreement.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact:
Click here for more information: www.monteverdelaw.com/investigations/m-a/. It is free and there is no cost or obligation to you.
Monteverde & Associates PC is a boutique class action securities and consumer litigation law firm committed that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates PC lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct. Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013 and 2017, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017 Top Rated Lawyer.
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave, Suite 4405
New York, NY 10118
United States of America
Tel: (212) 971-1341
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SOURCE Monteverde & Associates PC