WILMINGTON, Del., Dec. 07, 2017 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:

Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the Northern District of California on behalf of holders of Ocera Therapeutics, Inc. (“Ocera”) (Nasdaq:OCRX) common stock in connection with the proposed acquisition of Ocera by Mallinckrodt plc and its affiliates (“Mallinckrodt”) announced on November 2, 2017 (the “Complaint”).  The Complaint, which alleges violations of the Securities Exchange Act of 1934 against Ocera, its Board of Directors (the “Board”), and Mallinckrodt, is captioned Franchi v. Ocera Therapeutics, Inc., Case No. 3:17-cv-06636 (N.D. Cal.).

If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242, by e-mail at info@rl-legal.com, or at http://rigrodskylong.com/contact-us/

On November 1, 2017, Ocera entered into an agreement and plan of merger (the “Merger Agreement”) with Mallinckrodt.  Pursuant to the terms of the Merger Agreement, shareholders of Ocera will receive $1.52 in cash and one contingent value right per Ocera share (the “Proposed Transaction”).

Among other things, the Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a Solicitation/Recommendation Statement (the “Solicitation Statement”) filed with the United States Securities and Exchange Commission.  The Complaint alleges that the Solicitation Statement omits material information with respect to Ocera’s financial projections and the analyses performed by Ocera’s financial advisor.  The Complaint seeks injunctive and equitable relief and damages on behalf of holders of Ocera common stock. 

If you wish to serve as lead plaintiff, you must move the Court no later than February 5, 2018.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities fraud, shareholder corporate, and shareholder derivative litigation on behalf of shareholders in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
(888) 969-4242
(302) 295-5310
Fax: (302) 654-7530