NEW YORK–(BUSINESS WIRE)–Halper Sadeh LLP, a global investor rights law firm, announces the filing of a shareholder class action lawsuit against Spring Bank Pharmaceuticals, Inc. (NASDAQ: SBPH) in connection with its merger with F-star Therapeutics Limited. The lawsuit seeks damages and/or equitable relief on behalf of Spring Bank shareholders under the federal securities laws.
If you are a Spring Bank shareholder and would like to join the action, visit Spring Bank Class Action or contact Daniel Sadeh or Zachary Halper, free of charge, at (212) 763-0060 or [email protected] or [email protected] to discuss your legal rights and options.
Under the terms of the share exchange agreement, Spring Bank will acquire all of the outstanding share capital of F-star in exchange for the issuance of newly issued shares of Spring Bank common stock (the “Proposed Transaction”). Spring Bank shareholders will own approximately 38.8% of the combined company.
The lawsuit alleges that Defendants issued a materially incomplete and misleading registration statement recommending that Spring Bank shareholders vote in support of the Proposed Transaction. According to the complaint, the registration statement contains materially incomplete and misleading information concerning, among other things, Spring Bank’s and F-star’s financial projections and the analyses performed by Spring Bank’s financial advisor.
If you wish to serve as lead plaintiff, you must move the Court no later than November 27, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you would like to join the action, visit https://halpersadeh.com/actions/spring-bank-pharmaceuticals-inc-sbph-stock-merger-fstar/ or contact Daniel Sadeh or Zachary Halper, free of charge, at (212) 763-0060 or [email protected] or [email protected] to discuss your legal rights and options.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE OR YOU MAY REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT.
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