NEW YORK, Aug. 07, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, has opened an investigation into whether the officers or directors of ChemoCentryx, Inc. 211 (“ChemoCentryx”) has failed in its fiduciary duty or in breach of federal securities laws in connection with Amgen’s acquisition of the Company AMGN (“Amgen”).
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On August 4, 2022, ChemoCentryx announced that it had reached an agreement to be acquired by Amgen in a cash deal with an enterprise value of $3.7 billion. Under the terms of the merger agreement, Amgen will acquire ChemoCentryx for $52 per share in cash. The deal is expected to close in the fourth quarter of 2022.
Bragar Eagel & Squire is concerned that ChemoCentryx’s board oversaw an unfair process and ultimately approved an inadequate merger agreement. Accordingly, the Company is evaluating all relevant aspects of the transaction and aims to achieve the best possible outcome for ChemoCentryx shareholders.
If you own stock of ChemoCentryx and are concerned about the proposed merger or would like to learn more about the investigation or your legal rights and remedies, please email Melissa Fortunato at [email protected] or by calling (646) 860-9157 or via fill out this contact form. There are no costs or obligations for you.
About Bragar Eagle & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. attorney advertising. Previous results do not guarantee similar results.