NEW YORK, May 8, 2020 /PRNewswire/ --
URGENT: STOCKHOLDER VOTE MAY 19, 2020
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Assertio Therapeutics, Inc. ("Assertio" or the "Company") (NASDAQ: ASRT) in connection with the proposed merger of the Company with Zyla Life Sciences ("Zyla"). Under the terms of the proposed merger, (i) Zyla stockholders will be entitled to receive 2.5 shares of common stock of a newly-formed holding company for each share of Zyla common stock currently held, (ii) the newly combined company will retain the Assertio name, and (iii) Assertio stockholders are expected to own 68% of the new company, with Zyla stockholders owning the remaining 32%.
If you own shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether the Company's board acted in the best interests of its stockholders by entering into the merger agreement. Although Assertio stockholders will control 68% of the newly-formed combined entity, it is unclear from the April 20, 2020 Definitive Proxy filed with the Securities and Exchange Commission whether the relative values of Assertio and Zyla warrant the dilution of the Company's stockholders' interests that will result from the consummation of the deal. Among other deficiencies, the Definitive Proxy fails to provide critical projected financial information necessary for Assertio stockholders to fully and fairly evaluate the merits of the proposed merger.
Given these facts, WeissLaw is concerned whether the proposed acquisition is in the best interests of Assertio stockholders, 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