Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of Cornerstone Therapeutics, Inc. (“Cornerstone”) (Nasdaq: CRTX) related to a going private proposal by Chiesi Farmaceutici SpA (“Chiesi”) for shareholders. Under the terms of the going private proposal, Chiesi (which currently owns approximately 60% of the common stock) would acquire all outstanding shares of Cornerstone’s common stock for between $6.40 and $6.70 per share. The proposed acquisition price is well below at least one analyst’s estimated value of $14.00 per share and the 52-week high of $7.99.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at email@example.com. There is no cost or fee to you.
According to shareholder rights attorney Willie Briscoe, “The investigation relates to the fairness of the proposed transaction to Cornerstone shareholders and whether the Board of Directors is adequately shopping the company in order to obtain the best possible price for the shareholders. In addition, the firms are actively investigating possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Cornerstone in connection with the potential approval of this transaction, and whether Cornerstone’s Board of Directors is acting in the shareholders’ best interests.”
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
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