(FLXN): Johnson Fistel Investigates Proposed Sale of Flexion; Are Shareholders Getting a Fair Deal?
San Diego – GlobeNewswire—October 11, 2021
Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Flexion Therapeutics, Inc. (NYSE: FLXN) (“Flexion ” or the “Company”) breached their fiduciary duties in connection with the proposed sale of the Company to Pacira BioSciences, Inc. (Nasdaq: PCRX).
On October 11, 2021, Flexion announced entering into a merger agreement with Pacira BioSciences. Under the agreement terms, Pacira BioSciences will acquire all of the issued and outstanding shares of Flexion common stock for $ 8.50 per share in cash, plus one non-tradable contingent value right (CVR) worth up to $8.00 per share in cash. The CVR is in the event certain sales and regulatory milestones are achieved
The investigation concerns whether the Flexion board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Flexion shares of common stock. Nationally recognized, Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts’ projections for future revenue growth.
If you are a shareholder of Flexion 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.