Cascadian Investor Says $614M Deal Statement Omitted Info

Law360 (February 14, 2018, 10:22 PM EST) -- A shareholder of biopharmaceutical company Cascadian Therapeutics Inc. launched a class action on Tuesday in Delaware federal court alleging the company’s directors omitted material information from documents detailing a proposed $614 million merger deal with Seattle Genetics Inc.

David Kim said in the complaint that a registration statement filed with the U.S. Securities and Exchange Commission violated the Securities Exchange Act of 1934 and SEC rules because it omitted information needed by shareholders to make a fully informed decision about the deal, which would see Cascadian...
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