(PRVL Alert) Johnson Fistel Investigates Proposed Sale of Prevail; Are Shareholders Getting a Fair Deal?
Prevail Therapeutics Inc. (PRVL)
Last prevail therapeutics inc. earnings: 11/12 09:30 am
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Source: GlobeNewswire
SAN DIEGO, Jan. 05, 2021 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Prevail Therapeutics Inc. ("Prevail" or the "Company") (NASDAQ: PRVL) breached their fiduciary duties in connection with the proposed sale of the Company to Eli Lilly and Company (NYSE: LLY) ("Eli Lilly" or the "Company"). On December 15, 2020, Prevail announced that it had entered into a definitive merger agreement with Eli Lilly. Under the terms of the merger agreement, Prevail shareholders will receive only $22.50 per share in cash, plus one non-tradable contingent value right ("CVR") worth up to $4.00 per share in cash if certain milestones are reached. The investigation concerns whether the Prevail 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 Prevail shares of commo
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