NEW YORK, Dec. 12, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of ArQule, Inc.
("ArQule" or the "Company") (NASDAQ: ARQL) in connection with the
proposed acquisition of the Company by a subsidiary of Merck &
Co., Inc. (NYSE: MRK). Under the terms of the acquisition
agreement, ARQL shareholders will receive $20 per share in cash. The deal is scheduled
to close in the first quarter of 2020.
If you own ARQL shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
https://weisslawllp.com/arqule-inc-investigation/
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 ArQule's Board acted to
maximize shareholder value prior to entering into the acquisition
agreement. Notably, the Company's stock has an average rating
of "buy." The deal will also boost Merck's oncology pipeline with
ArQule's strategic assets, including its lead pipeline candidate
ARQ 531, an oral therapy being tested for the treatment of patients
with lymphatic diseases.
Given these facts, WeissLaw is concerned whether the proposed
acquisition agreement undervalues the Company, whether the Board
ran a fair process, 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