Market Overview

WEISSLAW LLP: Loxo Oncology, Inc. Acquisition May Not Be In The Best Interests of LOXO Shareholders

Share:

NEW YORK, Jan. 8, 2019 /PRNewswire/ -- WeissLaw LLP  is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Loxo Oncology, Inc. ("LOXO" or the "Company") (NASDAQ:LOXO) in connection with the proposed acquisition of the Company by Eli Lilly Company (NYSE:LLY) ("LLY").  Under the terms of the acquisition agreement, shareholders will be entitled to receive $235.00 in cash for each LOXO share they own.  

If you own LOXO shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:

Joshua Rubin
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com

Visit our website
http://www.weisslawllp.com/loxo-oncology-inc/

Or follow us on Twitter @MarketsAlert

WeissLaw LLP (PRNewsfoto/WeissLaw LLP)

WeissLaw is investigating whether LOXO's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, the deal is a lopsided transaction that heavily favors the interests of LLY and its shareholders.  Through this acquisition, LLY will gain access to LOXO's first-in-class portfolio of approved and investigational medicines.  This includes the Company's recently-approved Vitrakvi drug, an easy-to-swallow capsule for patients with tumors that harbor NTRK gene fusion mutations.  Vitrakvi is a promising new drug from which LOXO anticipates sales of well over $1 billion annually.  LLY will also gain access to another highly-anticipated LOXO drug which also promises blockbuster sales of approximately $800 million annually, if approved.

Given these facts, WeissLaw is concentrating its investigation on whether LOXO's Board conducted a fair process in agreeing to the proposed acquisition, whether the proposed acquisition undervalues the Company, 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

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/weisslaw-llp-loxo-oncology-inc-acquisition-may-not-be-in-the-best-interests-of-loxo-shareholders-300775062.html

SOURCE WeissLaw LLP

View Comments and Join the Discussion!