MONSEY, New York, Nov. 07, 2022 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the directors of Oyster Point Pharma, Inc. (Nasdaq: OYST) (“Oyster”) acted in the best interests of Oyster shareholders in approving the sale of Oyster to Viatris Inc. (“Viatris”) for $11.00 per share in cash, plus a contingent value right (CVR).
If you remain an Oyster shareholder and have questions about your legal rights, you may contact our firm at the following link to discuss your options at no charge:
https://wohlfruchter.com/cases/oyster-point-pharma/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On November 7, 2022, Oyster announced that it had agreed to be acquired by Viatris for $11.00 per share in cash, plus a CVR that entitles Oyster stockholders to potentially receive an additional cash payment of up to $2.00 per share, subject to the achievement of certain commercial milestones related to Oyster’s FDA-approved dry eye disease therapy, Tyrvaya.
The agreement has been approved by the Oyster board of directors (“Board”).
Our investigation concerns whether Oyster’s Board acted in the best interests of Oyster shareholders in approving the sale, including whether the acquisition price adequately compensates Oyster shareholders, and whether all material information regarding the transaction has been fully disclosed.
Notably, according to an analysis of Wall Street price targets for Oyster in the last 90 days published on Seeking Alpha, there is a high price target for Oyster of $65.00 per share, an average price target of $28.60 per share, and a low price target of $15.00 per share, all of which are above the deal price.
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
