SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of KYTHERA Biopharmaceuticals, Inc. (NASDAQ: KYTH) breached their fiduciary duties in connection with the planned merger of the Company with Allergan plc. KYTHERA is a clinical-stage biopharmaceutical Company that focuses on the discovery, development and commercialization of prescription products for the aesthetic medicine market in the United States and internationally.
On June 17, 2015, KYTHERA and Allergan announced that they had entered into a definitive merger agreement. Allergan will acquire KYTHERA in a cash and equity transaction valued at $75 per KYTHERA share, or approximately $2.1 billion. The fixed-value transaction consideration will be payable 80 percent in cash and 20 percent in new Allergan shares issued to KYTHERA shareholders.
The investigation concerns whether KYTHERA’s board failed to satisfy their duties to the Company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock. Nationally recognized Johnson & Weaver, which focuses its practice on shareholder rights, is investigating whether the proposed deal price represents adequate consideration, especially given KYTHERA’s promise of future growth. Moreover, one Wall Street analyst has an $85.00 price target on the stock which is far more than the $75.00 offer price.
If you are a KYTHERA shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (email@example.com) by email or by phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. 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 http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.