May 21, 2020 / 10:50 PM / 4 days ago

Stemline Therapeutics faces class actions over proposed acquisition

New York-based biotechnology company Stemline Therapeutics Inc has been hit with three proposed class action lawsuits accusing it of witholding information from investors related to its proposed $677 million acquisition by an Italian drugmaker.

The three lawsuits, filed Wednesday against Stemline and some of its officers in Delaware, Manhattan and Brooklyn federal courts, seek orders barring the company from closing its merger with Menarini Group before making more complete disclosures about its valuation to investors.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/36n9NYA

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