Drug Company Hit With Shareholder Suit Over Proposed Merger Deal

Mealey's (April 13, 2017, 2:30 PM EDT) -- BOSTON — A pharmaceutical company and its board of directors issued a proxy statement in connection with a proposed merger deal that contained several misrepresentations and omitted important facts surrounding the proposed transaction in violation of federal securities laws, an investor argues in an April 11 securities class action complaint filed in Massachusetts federal court (Stephen Bushansky v. Tokai Pharmaceuticals Inc., et al., No. 17-10621, D. Mass.)....

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