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Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP) Investor Investigation Over Possible Wrongdoing In Acquisition Announced

  • If you purchased shares of Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP) and currently hold any of those NASDAQ:SCMP shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
Sucampo Pharmaceuticals, Inc.
Security
NASDAQ: SCMP

Acquiring Company
Mallinckrodt PLC
Summary

An investigation on behalf of investors, who currently hold shares of Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP), was announced concerning whether the takeover of Sucampo Pharmaceuticals, Inc. by Mallinckrodt plc for $18.00 per share is unfair to NASDAQ:SCMP stockholders.

The investigation by a law firm concerns whether certain officers and directors of Sucampo Pharmaceuticals, Inc. breached their fiduciary duties owed to NASDAQ:SCMP investors in connection with the proposed acquisition.

Rockville, MD based Sucampo Pharmaceuticals, Inc. is a biopharmaceutical company. On December 26, 2017, Mallinckrodt plc (NYSE: MNK), a leading global specialty pharmaceutical company, and Sucampo Pharmaceuticals, Inc. (NASDAQ: SCMP), a global biopharmaceutical company, today announced that they have entered into an agreement under which Mallinckrodt will acquire Sucampo, including its commercial and development assets. Under the terms of the proposed transaction Sun Acquisition Co., a subsidiary of Mallinckrodt, will commence a cash tender offer to purchase all of the outstanding shares of Sucampo Pharmaceuticals' common stock for $18.00 per share.

However, given that at least one analyst has set the high target price for NASDAQ:SCMP shares at $43.00 per share and given that NASDAQ:SCMP traded after the takeover announcement in the open market as high as $18.75 per share on Janaury 8, 2017, the investigation concerns whether the offer is unfair to NASDAQ:SCMP stockholders. In addition, given that certain Sucampo stockholders holding approximately 32% of the outstanding Sucampo shares have entered into a tender and support agreement for this transaction, the investigation concerns whether the Sucampo Pharmaceuticals, Inc. Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Sucampo Pharmaceuticals, Inc. reported that its annual Total Revenue rose from $153.18 million in 2105 to $230.06 million in 2016.

Shares of Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP) reached in 2015 as high as $28.28 per share.

On January 9, 2018, NASDAQ:SCMP shares closed at $18.50 per share.

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