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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Progenics Pharmaceuticals, Inc. (“Progenics” or the “Company”) (NASDAQ: PGNX) to Lantheus Holdings, Inc. (“Lantheus”) (NASDAQ: LNTH). Under the terms of the deal, Progenics shareholders will receive 0.2502 shares of Lantheus stock for each share of Progenics stock.
The Progenics merger investigation concerns whether the Board of Progenics breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Lantheus is underpaying for Progenics shares, thus unlawfully harming Progenics shareholders.
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