NEW YORK, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Prevail Therapeutics, Inc. (NASDAQ: PRVL) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Eli Lilly and Company (NYSE: LLY).
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On December 15, 2020, Prevail announced that it had signed an agreement to be acquired by Eli Lilly for approximately $880 million. Pursuant to the merger agreement, Prevail stockholders will receive $22.50 in cash, plus one non-tradable contingent value right (“CVR”) worth up to $4.00 per share in cash to be payed at closing, for each share of TCF common stock owned. The deal is scheduled to close in the first quarter of 2021.
Bragar Eagel & Squire is concerned that Prevail’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 Prevail’s stockholders.
If you own shares of Prevail 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 or Alexandra Raymond by email at email@example.com or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. 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.