SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Magenta Therapeutics, Inc. (Nasdaq – MGTA)
BALA CYNWYD – May 3, 2023 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Magenta Therapeutics, Inc. (“Magenta” or the “Company”) (Nasdaq – MGTA) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s agreement to merge with Dianthus Therapeutics, Inc. (“Dianthus”). Under the terms of the Agreement, pre-merger Dianthus stockholders are expected to own approximately 78.7% of the combined company and pre-merger Magenta stockholders are expected to own approximately 21.3% of the combined company. Immediately prior to the closing of the proposed merger, Magenta stockholders will be issued contingent value rights representing the right to receive certain payments from proceeds received by the combined company, if any, related to pre-transaction legacy assets.
The investigation concerns whether the Magenta Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of the Company’s shareholders in the combined company.
If you own shares of Magenta 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 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, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, or call toll free 855-576-4847.
Brodsky & Smith 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.