Flexion Therapeutics, Inc.

Practice Area: 
Stock Symbol: 
FLXN
Case Status: 
Investigations

Ademi LLP is investigating Flexion (Nasdaq: FLXN), for possible breaches of fiduciary duty and other violations of law in its transaction with Pacira.

Ademi LLP alleges Flexion’s financial outlook and prospects are excellent and yet Flexion shareholders will receive only $8.50 per share in cash, plus one non-tradeable CVR. The CVR will entitle Flexion stockholders to up to an additional $8.00 per share in cash payable (subject to certain terms and conditions) upon achievement of the following milestones: $1.00 per share if total calendar year ZILRETTA net sales achieve $250 million; $2.00 per share if total calendar year ZILRETTA net sales achieve $375 million;$3.00 per share if total calendar year ZILRETTA net sales achieve $500 million;$1.00 per share upon U.S. FDA approval of FX201; and$1.00 per share upon U.S. FDA approval of FX301. The milestones associated with each contingent cash payment must be achieved, if at all, on or before December 31, 2030.