WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.
NEW YORK, Feb. 24, 2021 WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of PRA Health Sciences Inc. (“PRAH” or the “Company”) (NASDAQ: PRAH) in connection with the proposed cash-and-stock acquisition of the Company by ICON plc (NASDAQ GS: “ICLR”). Under the terms of the merger agreement, PRAH shareholders will receive $80.00 in cash and 0.4125 shares of stock for each share of PRAH common stock that they own, representing per-share merger consideration of approximately $166.05 based upon ICLR’s February 23, 2021 closing price of $208.62. Upon consummation of the deal, ICLR shareholders will own approximately 66 percent of the newly-combined company, leaving only 34% of the new company controlled by former PRAH shareholders. The transaction is valued at approximately $12 billion.
WeissLaw LLP is investigating whether (i) PRAH’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates PRAH’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.
Disclaimer: The following Press Release comes to you under a network of a strategic syndication partnership with PR Newswire. Prittle Prattle News takes no editorial responsibility for the same.