NEW YORK, Jan. 8, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty
and other violations of law by the Board of Directors of Loxo
Oncology, Inc. ("LOXO" or the "Company") (NASDAQ: LOXO) in
connection with the proposed acquisition of the Company by Eli
Lilly Company (NYSE: LLY) ("LLY"). Under the terms of the
acquisition agreement, shareholders will be entitled to receive
$235.00 in cash for each LOXO share
they own.
If you own LOXO shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, please contact:
Joshua
Rubin
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Visit our
website
http://www.weisslawllp.com/loxo-oncology-inc/
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WeissLaw is investigating whether LOXO's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the deal is a lopsided transaction that heavily favors the
interests of LLY and its shareholders. Through this
acquisition, LLY will gain access to LOXO's first-in-class
portfolio of approved and investigational medicines. This
includes the Company's recently-approved Vitrakvi drug, an
easy-to-swallow capsule for patients with tumors that harbor NTRK
gene fusion mutations. Vitrakvi is a promising new drug from
which LOXO anticipates sales of well over $1 billion
annually. LLY will also gain access to another
highly-anticipated LOXO drug which also promises blockbuster sales
of approximately $800 million
annually, if approved.
Given these facts, WeissLaw is concentrating its investigation
on whether LOXO's Board conducted a fair process in agreeing to the
proposed acquisition, 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
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SOURCE WeissLaw LLP