Current shareholders of Sepracor, Inc. (NASDAQ: SEPR) allege Sepracor’s Board of Directors breached their fiduciary duty to shareholders by agreeing to sell Sepracor to Dainippon Sumitomo Pharma Co. Ltd. for an unfair and inadequate price.
The current deal sells Sepracor for $23 per share to Dainippon. Shareholders allege the $23 per share price is far below Sepracor’s true value.
Shareholders also allege Sepracor’s Board of Directors agreed to terms designed to prevent anyone from making a superior offer for Sepracor, thereby locking in the unfair sale to Dainippon for $23 per share.
Your legal rights may be affected by this shareholder lawsuit. If you own Sepracor, Inc. common stock, call us toll-free at 877-573-0007 to join the shareholder lawsuit, to request more information, or to receive advice concerning your legal rights and remedies.