WILMINGTON, Del., Sept. 28, 2020 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the District of Delaware on behalf of holders of Spring Bank Pharmaceuticals, Inc. (“Spring Bank” or the “Company”) (NASDAQ GS: SBPH) common stock in connection with the proposed acquisition of F-star Therapeutics Limited (“F-Star”) by Spring Bank announced on July 29, 2020 (the “Complaint”). The Complaint, which alleges violations of the Securities Exchange Act of 1934 against Spring Bank, its Board of Directors (the “Board”), and F-Star, is captioned Franchi v. Spring Bank Pharmaceuticals, Inc., Case No. 1:20-cv-01198 (D. Del.).
To learn more about this investigation and your rights, visit: https://www.rigrodskylong.com/cases-spring-bank-pharmaceuticals-inc,join.
You may also contact Seth D. Rigrodsky or Gina M. Serra at (888) 969-4242 or info@rl-legal.com.
On July 29, 2020, Spring Bank entered into a share exchange agreement (the “Agreement”) with F-Star. Pursuant to the terms of the Agreement, Spring Bank will acquire: (i) the issued capital of F-Star; and (ii) each ordinary share of F-star in exchange for shares of Spring Bank common stock (the “Proposed Transaction”).
Among other things, the Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a Form S-4 Registration Statement (the “Registration Statement”) filed with the United States Securities and Exchange Commission. The Complaint alleges that the Registration Statement omits material information with respect to, among other things, the Company’s and F-star’s financial projections and the analyses performed by Spring Bank’s financial advisor. The Complaint seeks injunctive and equitable relief and damages on behalf of holders of Spring Bank common stock.
If you wish to serve as lead plaintiff, you must move the Court no later than November 27, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A., with offices in Delaware and New York, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in securities fraud and corporate class actions nationwide.
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Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
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info@rl-legal.com
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