NEW YORK, Dec. 12, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of ArQule, Inc. ("ArQule" or the "Company") (NASDAQ: ARQL) in connection with the proposed acquisition of the Company by a subsidiary of Merck & Co., Inc. (NYSE: MRK). Under the terms of the acquisition agreement, ARQL shareholders will receive $20 per share in cash. The deal is scheduled to close in the first quarter of 2020.
If you own ARQL shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
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Joshua Rubin, Esq.
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New York, NY 10036
WeissLaw is investigating whether ArQule's Board acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, the Company's stock has an average rating of "buy." The deal will also boost Merck's oncology pipeline with ArQule's strategic assets, including its lead pipeline candidate ARQ 531, an oral therapy being tested for the treatment of patients with lymphatic diseases.
Given these facts, WeissLaw is concerned whether the proposed acquisition agreement undervalues the Company, whether the Board ran a fair process, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
SOURCE WeissLaw LLP