NEW YORK, Oct. 15, 2020 /PRNewsCentre/ — Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for the Northern District of California, Case No. 4:20-cv-06733-YGR, on behalf of common shareholders of Aimmune Therapeutics, Inc. ("Aimmune" or the "Company") (AIMT) who held Aimmune securities as of the close of the tender offer on October 9, 2020 (the "Class Period"), and have been harmed by Aimmune and its board of directors’ (the "Board") alleged violations of Sections 14(e) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the sale of the Company to Société des Produits Nestlé S.A. ("Nestlé").
Under the terms of the sale, each share of Aimmune common stock was converted into the right to receive $34.50 in cash per share of Aimmune common stock owned. The complaint alleges that the Merger Consideration is inadequate and that the Recommendation Statement provided shareholders with materially incomplete and misleading information, in violation of Sections 14(e) and 20(a) of the Exchange Act. In particular, the complaint alleges that the Recommendation Statement contained materially incomplete and misleading information concerning: (i) financial projections for Aimmune; (ii) the valuation analyses performed by Aimmune’s financial advisors J.P. Morgan Securities L.L.C. and Lazard Frères & Co. LLC, in support of their fairness opinions; and (iii) background information of the offer.
Mr. Juan Monteverde is available to personally discuss this case with you and if you wish to serve as lead plaintiff, you must move the Court no later than December 14, 2020. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member.
Click here for more information: https://www.monteverdelaw.com/case/aimmune-therapeutics-inc. It is free and there is no cost or obligation to you.
About Monteverde & Associates PC
We are a national class action securities litigation law firm that has recovered millions of dollars and is committed to protecting shareholders from corporate wrongdoing. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Mr. Monteverde is recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2019 Top Rated Lawyer. Our firm’s recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Also, in 2019 we recovered or secured six cash common funds for shareholders in mergers & acquisitions class action cases.
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
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New York, NY 10118
United States of America
Tel: (212) 971-1341
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SOURCE: Monteverde & Associates PC