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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Stemline Therapeutics, Inc. (“Stemline” or the “Company”) (NASDAQ: STML) to Menarini Group. Under the terms of the merger, a wholly owned subsidiary of Menarini Group will commence a tender offer for all outstanding shares of Stemline, whereby Stemline shareholders will be offered $11.50 in cash and one non-tradeable contingent value right.
The Stemline merger investigation concerns whether the Board of Stemline breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction and whether Menarini Group is underpaying for Stemline shares, thus unlawfully harming Stemline shareholders.
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