SAN DIEGO, Sept. 18, 2018 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of Senomyx, Inc. (NASDAQ: SNMX) breached their fiduciary duties in
connection with the proposed sale of the Company to Firmenich
Incorporated ("Firmenich"). Senomyx discovers, develops, and
commercializes flavor ingredients and natural high intensity
sweeteners primarily for the packaged food, beverage, and
ingredient supply industries in the
United States.
On September 17, 2018, Senomyx
announced that it had signed a definitive merger agreement with
Firmenich. Under the terms of the agreement, Senomyx shareholders
will receive $1.50 in cash for each
share of common stock they hold.
The investigation concerns whether the Senomyx board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for Senomyx
shares of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given
one Wall Street analyst has a $2.00 price target on the stock. Additionally,
Senomyx has over $14 million in cash
and no long-term debt. The 52-week high for Senomyx stock was
$1.71.
If you are a shareholder of Senomyx and believe the proposed
buyout price is too low or you're interested in learning more about
the investigation or your legal rights and remedies, please contact
lead analyst Jim Baker
(jimb@johnsonfistel.com) at 619-814-4471. If emailing,
please include a phone number.
Additionally, you can [Click here to join this action].
There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is
a nationally recognized shareholder rights law firm with offices in
California, New York, and Georgia. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits. For more information about the firm and its
attorneys, please visit http://www.johnsonfistel.com. Attorney
advertising. Past results do not guarantee future outcomes.
Contact:
Johnson
Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP