NEW YORK, May 8, 2014 /PRNewswire/ -- Tripp Levy PLLC,
a leading national securities and shareholder rights law firm,
announces that it is investigating the acquisition of Chelsea
Therapeutics International, Ltd. (NASDAQ: CHTP) ("Chelsea" or the "Company") on behalf of its
shareholders. H. Lundbeck A/S ("Lundbeck") and Chelsea announced that the companies have
entered into a definitive agreement under which Lundbeck will
acquire Chelsea. Under the terms of the agreement,
Chelsea shareholders shall receive
$6.44 per share in cash, as well as
CVRs that may pay up to an additional $1.50 upon achievement of certain commercial
milestones related to NORTHERA's commercial performance in the
period 2015-2017.
The investigation concerns possible breaches of fiduciary duty
and other violations of state law by the Board of Directors of
Chelsea for not acting in
Chelsea shareholders' best
interests in connection with the sale process of Chelsea. The
investigation seeks to determine if there was an adequate auction
process and if Lundbeck is underpaying for Chelsea shares. Indeed, analysts have
projected that the true going forward inherent value of the company
is worth at least $12 per
share. Further, Chelsea
stock traded as high as $6.83 per
share just a few months ago. Moreover, the companies stated
that there can be assurance that any or all of the CVRs will be
made to shareholders.
If you are a shareholder of Chelsea and would like additional information
regarding this matter, at no cost or expense, please contact us
at:
Tripp Levy PLLC
New York, New York
Toll free: 1-800-511-7037
Email: contact@tripplevy.com
www.tripplevy.com
Tripp Levy PLLC represents individual and institutional
investors in shareholder actions and, along with its affiliates,
has recovered billions of dollars for shareholders in securities
actions. Tripp Levy PLLC has become affiliated with Milberg
LLP. Attorney advertising. Prior results do not
indicate a similar outcome
SOURCE Tripp Levy PLLC