Zalicus, Inc. Merger Litigation (Nasdaq: ZLCS)
SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation of Zalicus, Inc. - ZLCS
BALA CYNWYD, April 16, 2014 /PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Zalicus, Inc. (“Zalicus” or the “Company”) (Nasdaq –ZLCS-News) relating to the proposed merger with Epirus Biopharmaceuticals, Inc. (“Epirus”).
Under the terms of the transaction, the percentage of the combined company that Zalicus shareholders will own as of the closing of the merger is subject to an adjustment at closing based on the level of Zalicus net cash at closing. However, if the merger were to close today, the stockholders of Zalicus would own only 14% of the combined company.
The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Zalicus for not acting in the Company’s shareholders' best interests in connection with the sale process. The transaction may undervalue Zalicus and may result in a substantial loss for many long term holders of Zalicus stock. For example, Zalicus stock traded at $7.08 per share as recently as October 1, 2013 and traded at $8.88 per share on August 31, 2012.
If you own shares of Zalicus common 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 Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case 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 successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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