The Ademi Firm is investigating Cidara (Nasdaq: CDTX) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Merck.
In the tender offer transaction, Cidara shareholders will receive $221.50 per share in cash, for a total transaction value of approximately $9.2 billion. Cidara insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Cidara by imposing a significant penalty if Cidara accepts a competing bid. We are investigating the conduct of the Cidara board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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