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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Dova Pharmaceuticals, Inc. (“Dova” or the “Company”) (NASDAQ: DOVA) to Swedish Orphan Biovitrum AB (“Sobi”). Under the terms of the deal, an indirect subsidiary of Sobi will commence a tender offer for all outstanding shares of Dova, whereby Dova stockholders will be offered an upfront payment for $27.50 in cash, along with one non-tradeable CVR of $1.50 per share.
The Dova merger investigation concerns whether the Board of Dova breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Sobi is underpaying for Dova shares, thus unlawfully harming Dova shareholders.
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