SAN DIEGO, July 21, 2016 /PRNewswire-USNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Relypsa, Inc. (NASDAQ: RLYP) breached their fiduciary duties in connection with the proposed sale of the Company to Galenica.
Relypsa is a biopharmaceutical company that focuses on the discovery, development and commercialization of polymeric medicines for patients with conditions that are overlooked and undertreated and can be addressed in the gastrointestinal tract.
On July 21, 2016, Relypsa announced it had signed a definitive merger agreement with Galenica. Under the terms of the agreement, Galenica will pay $32.00 per share in cash for each share of Relypsa common stock.
The investigation concerns whether the Relypsa board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Relypsa shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration; especially given that the price target for one Wall Street analyst is $51.00. The 52-week high for Relypsa stock is $35.97.
If you are a shareholder of Relypsa and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
SOURCE Johnson & Weaver, LLP