Proteon Therapeutics Investor Seeks To Halt $42M Merger

Law360 (December 2, 2019, 1:32 PM EST) -- A Proteon Therapeutics Inc. investor has asked a New York federal judge to halt the biopharmaceutical company’s planned $42.5 million merger with ArTara Therapeutics, alleging Proteon made misleading financial statements to the U.S. Securities and Exchange Commission.

Proteon, a company working to reduce failure rates of dialysis-related procedures, touted the fairness of the proposed ArTara merger in the Nov. 7 registration statement, but violated the Exchange Act by failing to include complete information about the financial projections the board relied on to preliminarily approve the deal, according to Jeffrey Teow's complaint filed Saturday.

Teow said that if investors don’t get access...

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