NEW YORK, July 14, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of La Jolla Pharmaceutical Company (NASDAQ: LJPC) (“La Jolla”) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Innoviva, Inc. (Nasdaq: INVA) (“Innoviva”).
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On July 11, 2022, La Jolla announced that it had entered into an agreement to be acquired by Innoviva in an all-cash deal. Pursuant to the merger agreement, Innoviva will acquire all outstanding shares of La Jolla at a price of $5.95 per share and an incremental $0.28 per share for additional cash proceeds received in connection with the divestiture of a non-core asset. The deal is scheduled to close in 30 days.
Bragar Eagel & Squire is concerned that La Jolla’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for La Jolla’s stockholders.
If you own shares of La Jolla and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato by email at mergers@bespc.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. 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, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
mergers@bespc.com
www.bespc.com
