BALA CYNWYD, PA / ACCESSWIRE / September 17, 2019 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Alder BioPharmaceuticals, Inc. (“Alder BioPharmaceuticals” or “the Company”) (NASDAQ:ALDR News) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Danish pharmaceutical company Lundbeck.
Under the terms of the transaction, Alder BioPharmaceuticals shareholders will receive only an upfront payment of $18 per share - and one non-tradeable Contingent Value Right that entitles shareholders to an additional $2.00 per share - for each share of Alder BioPharmaceuticals common stock owned. The investigation concerns whether the Alder BioPharmaceuticals Board breached its fiduciary duties to shareholders and whether Lundbeck is underpaying for the Company. The transaction may undervalue the Company and would result in a substantial loss for many Alder BioPharmaceuticals shareholders. For example, one wall street analyst has set a $36.00 per share price target for ALDR stock and the stock previously traded for more than $52 a share.
If you own shares of Alder BioPharmaceuticals stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, visiting http://www.brodskysmith.com/cases/alder-biopharmaceuticals-inc-aldr/or calling toll free 877-534-2590.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC