Shareholder Alert: Ademi LLP investigates whether Acer Therapeutics Inc. has obtained a Fair Price in its transaction with Zevra

MILWAUKEE, Aug. 31, 2023 /PRNewswire/ -- Ademi LLP is investigating Acer (Nasdaq: ACER) for possible breaches of fiduciary duty and other violations of law in its transaction with Zevra.

Click here to learn how to join the action https://www.ademilaw.com/case/acer-therapeutics-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.

In the transaction, Acer stockholders are expected to receive only $ 0.121 shares of Zevra's common stock per share of Acer common stock based on the volume weighted average trading price of shares of Zevra's common stock during the past 20 consecutive trading days. In addition, Acer stockholders may receive up to $76 million in a series of potential cash payments pursuant to non-transferable Contingent Value Rights (CVRs) upon achievement of certain commercial and regulatory milestones for Acer's OLPRUVA (sodium phenylbutyrate) and Acer's EDSIVO (celiprol) within specified time periods. Certain additional cash payments are also possible pursuant to the CVRs with respect to milestones involving Acer's early-stage program ACER-2820 (emetine).

The transaction agreement unreasonably limits competing transactions for Acer by imposing a significant penalty if Acer accepts a competing bid. Acer insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Acer's board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.

If you own Acer common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/acer-therapeutics-inc.                       

We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Ademi LLP                                                                    
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001

SOURCE Ademi LLP