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SAN DIEGO, Dec. 9, 2019 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of ArQule, Inc. (NASDAQ: ARQL) breached their fiduciary duties in connection with the proposed sale of the Company to Merck & Co.
On December 9, 2019, ArQule announced that it had signed a definitive merger agreement with Merck. Under the terms of the merger agreement, ArQule shareholders will receive $20.00 in cash per share.
The investigation concerns whether the ArQule 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 ArQule shares of common stock.
If you are a shareholder of ArQule and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) 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.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson Fistel, LLP