NEW YORK, March 17, 2020 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Tetraphase
Pharmaceuticals, Inc. ("TTPH" or the "Company") (NASDAQ: TTPH) in
connection with the proposed acquisition of the Company by AcelRX
Pharmaceuticals, Inc. ("ACRX") (NASDAQ: ACRX). Under the
terms of the acquisition agreement, shareholders will receive
0.6303 shares of ACRX common stock for each share of TTPH they own.
This represents consideration of $0.529 per TTPH share based on ACRX March 16 closing price.
If you own TTPH shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://www.weisslawllp.com/tetraphase-pharmaceuticals-inc/
Or please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether TTPH's board of directors
acted to maximize shareholder value prior to entering into the
acquisition agreement, and whether TTPH shareholders have enough
information to cast a fully informed vote on the proposed
transaction. Notably, at least one analyst set a target price
of $1.50 per TTPH share, or
approximately $1.00 above the
per-share consideration.
Moreover, the deal strategic transaction through which ACRX
hopes to leverage TTPH's "well-established U.S. salesforce and a
high-growth hospital product" to optimize the efficiency of the
commercialization of its DSUVIA drug.
Given these facts, WeissLaw is concerned whether the proposed
acquisition undervalues the Company, and whether all material
information related to the proposed acquisition is fully and fairly
disclosed.
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 stockinfo@weisslawllp.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/shareholder-alert-weisslaw-llp-investigates-tetraphase-pharmaceuticals-inc-301025622.html
SOURCE WeissLaw LLP