BALA CYNWYD, PA / ACCESSWIRE / December 10, 2019 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of ArQule, Inc. ("ArQule" or "the Company") (NasdaqGS:ARQL) for possible breaches of fiduciary duty and other violations of federal and state law in connection with proposed acquisition of the Company by Merck & Co., Inc. ("Merck") (NYSE:MRK). Under the terms of the agreement, ArQule shareholders will receive only $20.00 for each share of ArQule common stock owned.
The investigation concerns whether the ArQule Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Merck is underpaying for the Company. For example, ArQule's lead new drug candidate under development, called ARQ 531, is a potential treatment of B-cell malignancies including relapsed or refractory chronic lymphocytic leukemia. Merck's President commented, "ArQule's focus on precision medicine has yielded multiple clinical-stage oral kinase inhibitors that have novel and important properties, …. This acquisition strengthens Merck's pipeline with the addition of these strategic assets."
If you own shares of Arqule 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, by visiting http://www.brodskysmith.com/cases/arqule-inc-nasdaqgs-arql/, 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