NEW YORK, Nov. 12, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Foamix
Pharmaceuticals Ltd. ("FOMX" or the "Company") (NASDAQ: FOMX) in
connection with the proposed acquisition of the Company by Menlo
Therapeutics, Inc. ("MNLO") (NASDAQ: MNLO). Under the terms
of the acquisition agreement, FOMX shareholders will receive 0.5924
shares of MNLO and a contingent stock right for each FOMX share
they own.
If you own FOMX shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://www.weisslawllp.com/foamix-pharmaceuticals-ltd/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether FOMX's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the deal is a strategic transaction from which MNLO will
derive numerous benefits. According to the acquisition
announcement, the deal establishes a dermatology-focused company
backed by FMOX's broad portfolio of products and late-stage
dermatology assets. Included among these assets is AMZEEQ,
the first topical formulation of minocycline approved by the FDA
for the treatment of inflammatory lesions of non-nodular
moderate-to-severe acne vulgaris. The Company also recently
submitted a New Drug Application for FMX103, a topical treatment
for moderate-to-severe papulopustular rosacea, with an anticipated
FDA Prescription Drug User Fee Act action date of June 2, 2020.
Finally, the acquisition will also grant MNLO access to FMOX's
robust sales and marketing infrastructure which "will provide
meaningful leverage to potential launches for product
candidates."
Given these facts, WeissLaw is concerned whether the proposed
acquisition undervalues the Company, and whether all material
information related to the proposed acquisition is fully and fairly
disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP
