If you received CVRs as above and would like to discuss your legal rights and how these cases might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-bmy/to learn more. If you wish to serve as a lead plaintiff in these class actions by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by December 6, 2021.
About the Lawsuits
On January 3, 2019, BMS and Celgene agreed to a merger under which Celgene shareholders would receive $50 in cash, one share of BMS common stock, and one CVR for each share of Celgene common stock. Each CVR would provide holders a contingent right to receive $9 in cash if certain milestones were reached, which consisted of FDA approval of three applications by certain deadline dates. On January 1, 2021, BMS announced that one of the deadlines had not been met and terminated the CVRs.
The lawsuit charges BMS with failing to take diligent efforts to meet the milestones, as required by the CVR agreement, in order to avoid paying the CVR buyout. As a result, the statements in the Joint Proxy concerning the efforts BMS would make to meet the milestones, the likelihood that the milestones would be met and the purported value of the CVRs were materially false and misleading when made.
The first-filed case is SM Merger/Arbitrage, L.P., et al., v. Bristol-Myers Squibb Company, et al., 21-cv-8255.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients - including public institutional investors, hedge funds, money managers and retail investors - in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE: Kahn Swick & Foti, LLC
View source version on accesswire.com:
https://www.accesswire.com/676080/Bristol-Myers-48-Hour-Deadline-Alert-Former-Louisiana-Attorney-General-and-Kahn-Swick-Foti-LLC-Remind-Investors-with-Losses-in-Excess-of-100000-of-Deadline-in-Class-Action-Lawsuits-against-Bristol-Myers-Squibb-Company--BMY
View original content to download multimedia: 