NEW YORK, April 10, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Neon Therapeutics, Inc. ("NTGN" or the "Company") (NASDAQ: NTGN) in connection with the proposed acquisition of the Company by BioNTech ("BNTX") (NASDAQ: BNTX). Under the terms of the acquisition agreement, NTGN shareholders will receive 0.063 American Depositary Shares issued by BNTX ("ADS") (each ADS representing one ordinary share of BNTX) in exchange for each share of NTGN common stock that they own. At the consummation of the proposed acquisition, NTGN will merge with Endor Lights, Inc., a wholly-owned subsidiary of BNTX, and itself become a wholly-owned subsidiary of BNTX.
If you own shares of Neon Therapeutics 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
NTGN's board was obligated to maximize shareholder value prior to entering into the acquisition agreement. Notably, the average target price for NTGN shares is $8.58, well above the implied per-share value of the merger consideration.
Given these facts, WeissLaw is investigating whether the proposed acquisition undervalues the Company, 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