Cascadian Therapeutics, Inc. (Nasdaq: CASC)
The firm is investigating into whether the board members of Cascadian Therapeutics, Inc. ("Cascadian") (CASC) breached their fiduciary duties in connection with the proposed sale of the Company to Seattle Genetics. Cascadian is a clinical-stage biopharmaceutical company, that research and develops, and sells therapeutic products for the treatment of cancer.
On January 31, 2018, Cascadian announced that it had signed a definitive merger agreement with Seattle Genetics. Under the terms of the agreement, Seattle Genetics will acquire each share of outstanding common stock of Cascadian in exchange for $10.00 per share in cash.
The investigation concerns whether the Cascadian 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 Cascadian shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially since the Company announced that the pivotal registrational trial of tucatinib for patients with HER2-positive metastatic breast cancer remains on track.
If you are a current shareholder and would like to discuss your options of exercising your rights as a shareholder, which include ensuring that the company is getting the highest possible price for the company, and that the board of directors will act in the best interest of the shareholders, please contact us.
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