Shareholder Rights Law Firm Johnson & Weaver, LLP, is Investigating the
SAN DIEGO -- September 16, 2013
Shareholder rights law firm Johnson & Weaver, LLP is investigating potential
breaches of fiduciary duty in connection with the proposed buyout of North
Carolina-based Cornerstone Therapeutics Inc. (NASDAQ: CRTX) by Italian
drugmaker Chiesi Farmaceutici S.p.A., Cornerstone's controlling shareholder
Chiesi currently owns 58% of Cornerstone's common stock and in February of
2013 proposed to acquire the rest of Cornerstone's common stock. On September
16, 2013, the parties announced that they had entered into a definitive merger
agreement, pursuant to which Chiesi plans to buy the remaining 42% of
Cornerstone's outstanding common stock for $9.50 per share, which values the
entire company at approximately $255 million.
Johnson & Weaver's investigation will determine whether the members of Astex's
Board of Directors breached their fiduciary duties to stockholders by failing
to maximize shareholder value with respect to the proposed buyout. Scott
Holleman, an attorney at Johnson & Weaver, said, "Cornerstone is a great
company, with tremendous upside. Chiesi knows this, which is why it wants to
acquire the rest of the company at the lowest possible price.” Mr. Holleman
added, "We have serious concerns over the functioning of the Board's special
committee and whether the Board did what it could to get the best value for
If you are a Cornerstone shareholder and are interested in learning more about
the investigation or your legal rights and remedies, please contact Mr.
Holleman at 917-325-3798 (email@example.com) or lead analyst Jim
Baker (firstname.lastname@example.org) at 619-230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholders’ rights law
firm. The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
Johnson & Weaver, LLP
Jim Baker, 619-230-0063 Ext. 118
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