MONSEY, N.Y., Jan. 19, 2022 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the directors of Zogenix, Inc. (Nasdaq: ZGNX) (“Zogenix”) acted in the best interests of ZGNX shareholders in approving the proposed acquisition of Zogenix by UCB, a global biopharmaceutical company.
If you remain a ZGNX shareholder and have questions about your legal rights, you may contact our firm at the following link to discuss your options at no charge:
https://wohlfruchter.com/cases/zogenix/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On January 19, 2022, UCB announced that it plans to acquire all of the outstanding shares of Zogenix for $26.00 per share in cash, plus a milestone-based contingent value right for a potential additional cash payment of $2.00 per share. The deal has already been approved by the board of directors of both companies.
Our investigation concerns whether Zogenix’s board acted in the best interests of ZGNX shareholders in approving the acquisition by UCB, including whether the acquisition price adequately compensates ZGNX shareholders, and whether all information regarding approval of the transaction has been fully disclosed.
In particular, according to an analysis of Wall Street ZGNX price targets in the last 90 days published on SeekingAlpha, the 11 analysts rating ZGNX have an average price target of $38 per share, with a high price target of $62 per share.
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
