BALA CYNWYD, PA / ACCESSWIRE / November 13, 2020 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Urovant Sciences Ltd. ("Urovant" or the "Company") (NASDAQ:UROV) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by Sumitovant Biopharma Ltd. ("Sumitovant"). Sumitovant is currently Urovant's largest shareholder, owning approximately 72% of the Company. Under the terms of the agreement, Urovant shareholders will receive only $16.25 in cash for each share they own.
The investigation concerns whether the Urovant Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Sumitovant is paying too little for the Company. For example, the wall street analyst average price target for Urovant is $22.13 a share.
If you own shares of Urovant 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 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/urovant-sciences-ltd-nasdaq-urov/, or call 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