WILMINGTON, Del., Sept. 26, 2013 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of Cornerstone Therapeutics, Inc. (NASDAQ CM: CRTX)?
- Did you purchase any of your shares prior to September 16, 2013?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Cornerstone Therapeutics, Inc. ("Cornerstone" or the "Company") (NASDAQ CM: CRTX) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Chiesi Farmaceutici S.p.A. ("Chiesi") in a transaction valued at approximately $107 million. Chiesi currently owns 58% of Cornerstone's outstanding common shares.
Click here to learn more: http://rigrodskylong.com/investigations/cornerstone-therapeutics-inc-crtx.
Under the terms of the agreement, public shareholders of Cornerstone will receive $9.50 per share in cash for each share of Cornerstone they own.
The investigation concerns whether Cornerstone's board of directors failed to adequately shop the Company and obtain the best possible value for Cornerstone's shareholders before entering into an agreement with Chiesi. According to Yahoo! Finance, at least one analyst has set a price target for Cornerstone stock at $14.00.
If you own the common stock of Cornerstone and purchased your shares before September 16, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth Rigrodsky or Shaye Fuchs at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to [email protected], or at: http://rigrodskylong.com/investigations/cornerstone-therapeutics-inc-crtx.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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SOURCE Rigrodsky & Long, P.A.