Investor Says Chiesi 'Coerced' Cornerstone Into $255M Buyout

Law360, Wilmington (September 19, 2013, 9:01 PM EDT) -- A minority shareholder of Cornerstone Therapeutics Inc. filed a putative class action in Delaware Chancery court late Wednesday alleging Chiesi Farmaceutici SpA “coerced” the board into accepting its $255 million stock buyout offer at a price that was too low.

Cornerstone investor Edwin A. Myruski argues that the company was poised for tremendous growth since Chiesi, which already owned a 65 percent interest in the firm, first announced its intentions in February, and that the buyer used its influence to scoop up the rest, apparently without...
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