Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating
whether members of the board of directors of Cadence Pharmaceuticals,
Inc. (NASDAQ:CADX) breached their fiduciary duties in connection
with the planned sale of the Company to Mallinckrodt plc.
For more information, please contact the firm's lead analyst, Jim Baker,
or at (619) 230-0063.
Cadence Pharmaceuticals is a biopharmaceutical company based in San
Diego that focuses on acquiring, in-licensing, developing and
commercializing proprietary product candidates for use in the hospital
setting. Its lead product, OFIRMEV, an intravenous formulation of
acetaminophen, is indicated for the management of mild to moderate pain,
the management of moderate to severe pain with adjunctive opioid
analgesics, and the reduction of fever.
On Fbruary 11, 2014, Cadence and Mallinckrodt announced that they had
entered into a merger agreement under which Mallinckrodt will acquire
Cadence for $14 per share in cash, or total of about $1.3 billion. The
acquisition is structured as a tender offer and is expected to be
completed by the end of March of this year.
The investigation will determine whether Cadence's directors breached
their fiduciary duties to stockholders in connection with the proposed
acquisition. Jim Baker, lead analyst for Johnson & Weaver, stated that,
"Mallinckrodt's offer appears to be inadequate and not in the best
interest of the shareholders." Baker continued, "One analyst has a
target price above the $14 acquisition price. Additionally, Mallinckrodt
stated that the acquisition will be immediately accretive to its fiscal
2014 diluted earnings per share and significantly accretive to the 2015
fiscal year diluted earnings per share."
If you are a Cadence shareholder and would like additional information
concerning your legal rights, please contact lead analyst Jim Baker (firstname.lastname@example.org)
at (619) 230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law
firm with offices in California and New York. 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 http://www.johnsonandweaver.com.
Attorney advertising. Past results do not guarantee future outcomes.
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