BALA CYNWYD, Pa., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
CymaBay Therapeutics, Inc. (Nasdaq – CBAY)
Under the terms of the agreement, CymBay will be acquired by Gilead Sciences, Inc. (Nasdaq - GILD). Gilead will acquire CymaBay for $32.50 per share in cash or a total equity value of $4.3 billion. The investigation concerns whether the CymaBay Therapeutics Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Gilead Sciences is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/cymabay-therapeutics-inc-nasdaq-cbay-2/.
Everi Holdings Inc. (NYSE – EVRI)
Under the terms of the Merger Agreement, Everi will merge with International Game Technology PLC (“IGT”) (NYSE - IGT). At closing, IGT shareholders are expected to own approximately 54% and Everi stockholders are expected to own approximately 46% of the shares in the combined company. The investigation concerns whether the Everi Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution to the Company’s shareholders in the combined company.
Additional information can be found at https://www.brodskysmith.com/cases/everi-holdings-inc-nyse-evri/.
Sterling Check Corp. (Nasdaq – STER)
Under the terms of the agreement, Sterling will be acquired by First Advantage Corporation (Nasdaq - FA). Sterling shareholders will elect to receive either $16.73 in cash or 0.979 shares of First Advantage common stock for each Sterling share. The shareholder election will be subject to proration, resulting in approximately 72% of Sterling’s shares being exchanged for cash consideration and 28% being exchanged for First Advantage common stock. The investigation concerns whether the Sterling Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the offer from First Advantage Corporation provides fair value to the Company’s shareholders.
Additional information can be found at https://www.brodskysmith.com/cases/sterling-check-corp-nasdaq-ster/.
Societal CDMO Check Corp. (Nasdaq – SCTL)
Under the terms of the agreement, Societal CDMO will be acquired by CoreRx, Inc. (“CoreRx”) for $1.10 per share in cash. The investigation concerns whether the Societal CDMO Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the offer from CoreRx provides fair value to the Company’s shareholders.
Additional information can be found at https://www.brodskysmith.com/cases/societal-cdmo-check-corp-nasdaq-ster/.
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