SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by Board of Cornerstone Therapeutics, Inc. In Connection With Sale Of Company to Chiesi Farmaceutici SpA
NEW YORK, Sept. 17, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Cornerstone Therapeutics, Inc. ("Cornerstone" or the "Company") (Nasdaq: CRTX) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Chiesi Farmaceutici SpA ("Chiesi").
Under the terms of the transaction, Cornerstone shareholders will receive $9.50 for each share of Cornerstone stock they own. Chiesi currently owns 58% of Cornerstone's outstanding common shares. The investigation concerns, among other things, whether the consideration to be paid to Cornerstone shareholders is unfair, inadequate, and substantially below the fair or inherent value of Cornerstone stock. In particular, at least one analyst set a price target for Cornerstone stock at $14.00 per share.
Levi & Korsinsky is a national firm with offices in New York, New Jersey and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com