Turning Point Therapeutics, Inc.

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Ademi LLP is investigating Turning Point Therapeutics (NASDAQ:TPTX) for possible breaches of fiduciary duty and other violations of law in its transaction with Bristol Myer.

Ademi LLP alleges Turning Point Therapeutics’ financial outlook and prospects are excellent and yet Turning Point Therapeutics holders will receive only $76.00 per share in an all-cash transaction for a total consideration of $4.1 billion in equity value. The transaction agreement unreasonably limits competing bids for Turning Point Therapeutics by imposing a significant penalty if Turning Point Therapeutics accepts a superior bid. Turning Point Therapeutics insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Turning Point Therapeutics’ board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Turning Point Therapeutics.