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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of SteadyMed Ltd. (NASDAQGM: STDY) to United Therapeutics Corporation (NASDAQGS: UTHR). Under the terms of the transaction, SteadyMed shareholders will receive $4.46 per share in cash, with an additional $2.63 per share in cash upon achievement of a certain milestone related to SteadyMed’s Trevyent drug-device combination product.
The investigation concerns whether the Board of SteadyMed breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether United Therapeutics Corporation is underpaying for SteadyMed shares, thus unlawfully harming SteadyMed shareholders.
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