Newman Ferrara LLP is investigating potential claims against the board of directors of Chelsea Therapeutics International (“Chelsea”) (Nasdaq: CHTP) concerning the proposed sale of Chelsea to Danish corporation H. Lundbeck A/S (“Lundbeck”). On May 8, 2014, Chelsea announced that it had entered into an agreement and plan of merger to be acquired by Lundbeck pursuant to which, Chelsea stockholders will receive only $6.44 in cash for each share of Chelsea stock owned. The proposed deal also includes a Contingent Value Right of up to $1.50 per share. However, Chelsea common stock has traded at above the $6.44 per share offer price as recently as February 19, 2014, when it traded at $6.83 per share. Newman Ferrara LLP’s investigation concerns whether Chelsea’s Board of Directors has breached its fiduciary duties to act in the best interests of Chelsea’s shareholders and to take all necessary steps to ensure that Chelsea’s shareholders receive the maximum value readily available for their shares of Chelsea common stock. Concerned investors may contact Newman Ferrara attorney Roy Shimon at email@example.com to discuss this investigation, their rights, or potential remedies. Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.
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