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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of ARMO BioSciences, Inc. (NASDAQGS: ARMO) to Eli Lilly and Company (NYSE: LLY) for $50 per share.
The investigation concerns whether the Board of ARMO breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Eli Lilly and Company is underpaying for ARMO shares, thus unlawfully harming ARMO shareholders.
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