SAN DIEGO, Jan. 31, 2018 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of Cascadian Therapeutics, Inc.
("Cascadian") (NASDAQ: CASC) breached their fiduciary duties in
connection with the proposed sale of the Company to Seattle
Genetics. Cascadian is a clinical-stage biopharmaceutical company,
that research and develops, and sells therapeutic products for the
treatment of cancer.
On January 31, 2018, Cascadian
announced that it had signed a definitive merger agreement with
Seattle Genetics. Under the terms of the agreement, Seattle
Genetics will acquire each share of outstanding common stock
of Cascadian in exchange for $10.00 per share in
cash.
The investigation concerns whether the Cascadian board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for Cascadian
shares of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially since
the Company announced that the pivotal registrational trial of
tucatinib for patients with HER2-positive metastatic breast cancer
remains on track.
If you are a shareholder of Cascadian and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonfistel.com) at
619-814-4471. If emailing, please include a phone
number.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP