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SAN DIEGO, Jan. 10, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Dermira, Inc. (NASDAQ: DERM) ("Dermira") breached their fiduciary duties in connection with the proposed sale of the Company to Eli Lilly and Company ("Lilly").
On January 10, 2020, Dermira announced that it had signed a definitive merger agreement with Lilly. Under the terms of the merger agreement, Dermira shareholders will receive $18.75 in cash per share.
The investigation concerns whether the Dermira 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 Dermira shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given one Wall Street analyst has a $29.00 price target on the stock. The 52-week high for Dermira was $19.30.
If you are a shareholder of Dermira and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (firstname.lastname@example.org) 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