NEW YORK, Nov. 30, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Sunesis Pharmaceuticals, Inc. ("Sunesis " or the "Company") (NASDAQ: SNSS) in connection with the Company's proposed merger with privately-held Viracta Therapeutics, Inc. ("Viracta"). Under the terms of the merger agreement, Sunesis and Viracta will combine, resulting in current Viracta stockholders owning 86% of the post-close company and leaving only 14% of the surviving entity to current Sunesis stockholders. The combined company will operate under the name Viracta Therapeutics, Inc. and will continue to trade on the NASDAQ under the new ticker symbol "VIRX."
If you own Sunesis 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 (i) whether Sunesis' board acted in the best interest of Sunesis' public stockholders in agreeing to the proposed transaction, (ii) whether the board was fully informed as to the value of privately-held Viracta, (iii) whether the deal's equity split is fair to Sunesis' stockholders, and (iv) whether all information regarding the sales process undertaken by the board and financial analyses supporting the transaction will be fully and fairly disclosed to Sunesis' public stockholders.
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