(AKCA) Alert: Johnson Fistel Investigates Proposed Sale of Akcea Therapeutics; Is $18.15 a Fair Price?
SAN DIEGO, Sept. 1, 2020 /PRNewswire/ —
Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Akcea Therapeutics, Inc. (NASDAQ: AKCA) (“Akcea” or the “Company”) breached their fiduciary duties in connection with the proposed sale of the Company to Ionis Pharmaceuticals, Inc. (NASDAQ: IONS) (“Ionis”).
On August 31, 2020, Akcea announced Ionis would acquire all of the outstanding shares of Akcea common stock that it does not already own for $18.15 per share in cash.
The investigation concerns whether the Akcea board failed to satisfy its duties to the Company shareholders and whether the board obtained the best price possible for Akcea shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given one Wall Street analyst has a $41.00 price target on the stock. The 52-week high for Akcea was $22.79.
If you are a shareholder of Akcea and believe the proposed buyout price is too low or you’re interested in learning more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.