The Law Office of Robbins Arroyo LLP Announces Class Action Lawsuit Against
Chelsea Therapeutics International, Ltd.
SAN DIEGO and CHARLOTTE, N.C., June 2, 2014
SAN DIEGOand CHARLOTTE, N.C., June 2, 2014 /PRNewswire/ --Shareholder rights
attorneys at Robbins Arroyo LLP announce that the firm filed a class action
lawsuit on May 30, 2014, in the U.S. District Court for the District of
Delaware (the "Court"), on behalf of the shareholders of Chelsea Therapeutics
International, Ltd. ("Chelsea") (NASDAQ: CHTP) against Chelsea, its Board of
Directors, for, among other things, violations of sections 14(e) and 20(a) of
the U.S. Securities and Exchange Act of 1934 (the "Exchange Act") and U.S.
Securities and Exchange Commission Rule 14a-9 promulgated thereunder.
Robbins Arroyo LLP.
The complaint arises out of a May 8, 2014 press release announcing that
Chelsea had entered into a definitive merger agreement with H. Lundbeck A/S,
pursuant to which Chelsea shareholders would receive through a tender offer,
$6.44 in cash for each share of Chelsea owned, as well as contingent value
rights that may pay up to a total of an additional $1.50 per share upon
achievement of certain commercial milestones over the next several years (the
"Proposed Transaction"). The complaint seeks injunctive relief on behalf of
the named plaintiff and all other similarly situated shareholders of Chelsea
as of May 8, 2014 (the "Class"). The named plaintiff is represented by
Robbins Arroyo LLP.
The named plaintiff alleges that certain of the defendants, in connection with
the Proposed Transaction, breached or aided and abetted the other defendants'
breaches of their duties and obligations owed to Chelsea shareholders. The
complaint further alleges that, in an attempt to secure shareholder approval
of the Proposed Transaction, the defendants filed a materially false and
misleading preliminary proxy statement on Form 14D-9 with the U.S. Securities
and Exchange Commission in violation of the Exchange Act and their duties of
candor and full disclosure. The omitted and/or misrepresented information is
believed to be material to Chelsea shareholders' ability to make an informed
decision whether to approve the Proposed Transaction.
If you wish to serve as lead plaintiff, you must move the Court no later than
sixty days from June 2, 2014. If you wish to discuss this action or have any
questions concerning this notice or your rights or interests, please contact
attorney Darnell R. Donahue of Robbins Arroyo LLP at 800-350-6003, via the
shareholder information form on our website, or by e-mail at
firstname.lastname@example.org. Any member of the Class may move the Court to serve
as lead plaintiff through counsel of their choice, or may choose to do nothing
and remain an absent Class member.
Robbins Arroyo LLP, a nationally recognized leader in the area of shareholder
rights litigation, represents individual and institutional investors in
securities class action lawsuits and shareholder derivative actions. Robbins
Arroyo LLP has helped its clients realize more than $1 billion of value for
themselves and the companies in which they have invested. Past results do not
guarantee similar outcomes. For more information about the firm, please go to
Press release link:
Darnell R. Donahue
Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003
SOURCE Robbins Arroyo LLP.
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