NEW
YORK, March 10, 2025 /PRNewswire/ -- Shareholder
law firm Julie & Holleman LLP is investigating the proposed
$4.10 per share sale of Checkpoint
Therapeutics, Inc. (Nasdaq: CKPT) to Sun Pharmaceutical Industries,
Inc. The firm is concerned about conflicts relating to Checkpoint's
controlling shareholder, Fortress Biotech, Inc. (Nasdaq: FBIO),
which has secured special benefits in the deal.
For a free consultation, or to learn more, contact partner W.
Scott Holleman, Esq. by email at
scott@julieholleman.com or by telephone at (929) 415-1020. You may
also visit:
https://julieholleman.com/checkpoint-therapeutics-inc/
Checkpoint is pharmaceutical company focused on developing novel
treatments for patients with solid tumor cancers. The company is
controlled by its founder, Fortress Biotech.
Checkpoint recently received FDA approval for the use of
cosibelimab-ipdl (branded as UNLOXCYT) for the treatment of adults
with certain cancers. Checkpoint has not yet received European
Union approval for cosibelimab. The U.S. market for cosibelimab is
estimated to be worth over $1 billion
annually, and the global market could be several times greater.
On March 9, 2023, Checkpoint
announced the deal with Sun Pharma, under which shareholders will
receive $4.10 per share in cash (or a
total of $355 million). if
cosibelimab receives EU approval within a prescribed time period,
shareholders could also receive up to $0.70 per share through a "contingent value
right," or CVR.
Julie & Holleman, a law firm that whose attorneys have
helped recover hundreds of millions of dollars for shareholders, is
concerned about both conflicts and price. In addition to what other
shareholders will receive, Fortress Biotech will receive royalty
payments related to eventual sales of cosibelimab. Accordingly,
while Fortress and Sun Pharma stand to reap enormous benefits from
cosibelimab at the expense of ordinary shareholders.
ABOUT THE FIRM
Julie & Holleman is a boutique law firm that focuses on
shareholder litigation, including derivative actions, mergers and
acquisitions cases, securities fraud class actions,
and corporate investigations. The firm's attorneys litigate in
state and federal courts across the nation and have helped secure
hundreds of millions of dollars for aggrieved companies and their
shareholders. For more information about the firm, please visit
www.julieholleman.com. This notice may constitute attorney
advertising.
CONTACT INFORMATION
Julie & Holleman LLP
W. Scott Holleman, Esq.
157 East 86th Street
4th Floor
New York, NY 10028
(929) 415-1020
www.julieholleman.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/ckpt-merger-alert-checkpoint-shareholders-seeking-money-should-contact-julie--holleman-regarding-sale-to-sun-pharma-302397553.html
SOURCE Julie & Holleman LLP
