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Relypsa Inc (NASDAQ:RLYP) Investor Lawsuit Against Acquisition By Galenica Group Filed

  • If you purchased shares of Relypsa Inc (NASDAQ:RLYP), you may have certain options. Please contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Company
Relypsa Inc
Security
NASDAQ: RLYP

Case Name
Relypsa Deal Case 08/19/2016
Type of Lawsuit
Mergers and Acquisition
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Summary

August 19, 2016 (Shareholders Foundation) - An investor who currently holds shares of Relypsa Inc (NASDAQ:RLYP), filed a lawsuit in effort to halt the proposed takeover of Relypsa Inc. by Galenica Group for $32.00 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:RLYP stockholders by agreeing to sell Relypsa Inc too cheaply via an unfair process to Galenica Group.

On July 21, 2016, Galenica Group (SIX:GALN) and Relypsa, Inc.(NASDAQ:RLYP) announced that the companies have entered into an agreement under which Galenica Group will acquire Relypsa Inc (NASDAQ:RLYP). Under the terms of the merger agreement, Galenica will pay $32 per share in cash, or a total of approximately$1.53 billion.

However, plaintiff claims that the proposed consideration NASDAQ:RLYP shareholders will receive is grossly inadequate and undervalues Relypsa, Inc. Indeed, at least one analyst has set the high target price for NASDAQ:RLYP shares at $51.00 per share. In addition, the plaintiff alleges that the process is also unfair to Relypsa stockholder.