1. TSBX's sale to XOMA for $0.34 per share is under investigation. 2. Halper Sadeh LLC questions if the price is fair for shareholders. 3. Investigation focuses on potential fiduciary duty breaches by TSBX's board. 4. Shareholders may seek increased consideration or additional disclosures. 5. Legal actions may impact the completion timeline of the sale.
The investigation raises concerns about the merger's fairness, likely pressuring TSBX’s stock price. Historical precedents, like the scrutiny of mergers, often yield price declines until resolution.
The ongoing legal investigation signifies potential risks to TSBX shareholders, likely impacting short-term sentiment and stock value.
Immediate investor reactions could influence TSBX’s stock price until the legal uncertainty is resolved. Similar scenarios typically show volatility until the investigation concludes.
NEW YORK--(BUSINESS WIRE)-- Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Turnstone Biologics Corp. (NASDAQ: TSBX) to XOMA Royalty Corporation for $0.34 in cash per share plus one non-transferable contingent value right is fair to Turnstone shareholders.
Halper Sadeh encourages Turnstone shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@halpersadeh.com or zhalper@halpersadeh.com.
The investigation concerns whether Turnstone and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Turnstone shareholders; (2) determine whether XOMA is underpaying for Turnstone; and (3) disclose all material information necessary for Turnstone shareholders to adequately assess and value the merger consideration.
On behalf of Turnstone shareholders, Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.
Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.