NEW YORK, March 3, 2020 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Forty Seven,
Inc. ("Forty Seven" or the "Company") (NASDAQ: FTSV) in connection
with the proposed acquisition of the Company by Gilead Sciences,
Inc. ("Gilead") (NASDAQ: GILD). Under the terms of the
acquisition agreement, FTSV shareholders will receive $95.50 per share in an all-cash tender
offer. The deal is scheduled to close in the second quarter of
2020.
If you own FTSV 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/forty-seven-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 Forty Seven's Board acted to
maximize shareholder value prior to entering into the acquisition
agreement. Notably, the deal is a strategic transaction which
will grant Gilead access to Forty Seven's investigational lead
product candidate, Magrolimab. The product has recently
presented "promising results in a Phase 1b study . . . . [and] has the potential to be a
first-in-class therapy." Additionally, according to the
acquisition announcement, the transaction will strengthen Gilead's
immune-oncology research and development portfolio and will add
"significant potential to [its] clinical pipeline."
Finally, the acquisition agreement contains a "no-shop"
restriction which bars the Company from soliciting or discussing a
better offer.
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
