SAN DIEGO, Feb. 20, 2021 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Viela Bio, Inc. (NASDAQ: VIE) breached their fiduciary duties in connection with the proposed sale of the Company to Horizon Therapeutics plc (NASDAQ: HZNP).
On February 1, 2021, Viela Bio announced that it had entered into a definitive merger agreement with Horizon Therapeutics. Under the terms of the definitive merger agreement, Horizon Therapeutics will acquire all of the issued and outstanding shares of Viela Bio common stock for $53.00 per share in cash.
The investigation concerns whether the Viela Bio board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Viela Bio shares of common stock. Nationally recognized, Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future revenue growth. The 52-week high for Viela Bio was $70.66.
If you are a shareholder of Viela Bio and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE Johnson Fistel, LLP