SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Foamix Pharmaceuticals Ltd. (Nasdaq – FOMX)

BALA CYNWYD, November 25, 2019 /Access Wire/ – Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Foamix Pharmaceuticals Ltd. (“Foamix” or “the Company”) (Nasdaq: FOMX) for possible breaches of fiduciary duty and other violations of federal and state law in connection with proposed acquisition of the Company by Menlo Therapeutics Inc. (“Menlo”) (NasdaqGS: MNLO). Under the terms of the agreement, Foamix shareholders will receive only 0.5924 shares of Menlo stock for each share of Foamix common stock owned. This exchange ratio implied a deal price of $3.09 as of the last day of trading before the announcement.

The investigation concerns whether the Foamix Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Menlo is underpaying for the Company. The transaction may undervalue the Company and would result in a substantial loss for many Foamix shareholders. For example, at least one analyst following the Company has set a price target of $30.00 and the average 12-month analyst price target is $15.40. Additionally, the implied deal price of $3.09 (as of the last day of trading pre-announcement) is well below the 52-week high of $4.48.

If you own shares of Foamix stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, or calling toll free 877-534-2590.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.