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NEW YORK, Nov. 13, 2019 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All Persons or Entities who purchased Menlo Therapeutics Inc. (“Menlo” or the “Company”) (NASDAQ: MNLO) stock prior to November 11, 2019.
You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger of Menlo with Foamix Pharmaceuticals Ltd. (“Foamix”) (NASDAQ: FOMX). Under the terms of the transaction, each share of Foamix stock will be exchanged for 0.5924 of a share of Menlo common stock and a contingent stock right. Following the merger, Foamix shareholders will own approximately 59% of the combined company and Menlo shareholders will own approximately 41%. To learn more about the action and your rights, go to:
or contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500. There is no cost or obligation to you.
The Menlo merger investigation concerns whether the Board of Menlo breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction and whether the merger with Foamix undervalues Menlo shares, thus unlawfully harming Menlo shareholders.
Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171