NEW YORK, Jan. 10, 2020 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Dermira, Inc.
("DERM" or the "Company") (NASDAQ: DERM) in connection with the
proposed acquisition of the Company by Eli Lilly and Company
("LLY") (NYSE: LLY). Under the terms of the acquisition agreement,
DERM shareholders will receive $18.75
for each share they own.
If you own DERM shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://www.weisslawllp.com/dermira-inc/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether DERM's Board acted to maximize
shareholder value prior to entering into the acquisition
agreement. Notably, at least one analyst set a target price
of $29.00, or $10.25 above the per-share offer price.
In addition, according to the acquisition announcement, the
transaction will expand LLY's immunology pipeline with the addition
of lebrikizumab—DERM's investigational antibody which was granted
Fast Track designation from the FDA in December and is currently
being evaluated in a Phase 3 clinical development program for the
treatment of moderate-to-severe atopic dermatitis in adolescents
and adults. The acquisition will also expand LLY's portfolio
to include the Company's QBREXZA.
Moreover, the Company recently announced positive financial
results. According to its November 5,
2019 press release, "[t]he third quarter was marked by
notable progress on key commercial, clinical, and regulatory
initiatives." Company Chairman and CEO Tom Wiggans further projected that in 2020, DERM
will have "a number of attractive investment opportunities,
including two programs of significant value in QBREXZA and
lebrikizumab."
Given these facts, WeissLaw is concerned whether the proposed
acquisition undervalues the Company, and whether all material
information related to the proposed acquisition is fully and fairly
disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP