MYOV SPECIAL ALERT: Julie & Holleman Investigates Potential Legal Claims Related to Take-Private Acquisition of Myovant Sciences

NEW YORK, Dec. 16, 2022 /PRNewswire/ -- Shareholder rights law firm Julie & Holleman is investigating the proposed acquisition of Myovant Sciences (NYSE: MYOV) by affiliates of its controlling shareholder, Sumitovant Biopharma, an affiliate of Japanese conglomerate Sumitomo. Under the terms of the deal, Sumitovant will acquire all the outstanding shares of Myovant common stock it does not already own for $27 per share in cash, or a total of approximately $1.7 billion.

To learn more about the investigation, click here. There is no cost of obligation to you.

Myovant is a biopharmaceutical company founded in 2016 that currently has two FDA-approved products, ORGOVYX®, which helps treat prostate cancer, and MYFEMBREE®, which is prescribed to manage complications associated with uterine fibroids. The company has other products that have been approved for use in the European Union, and it is also pursuing approval of additional products or indications in the U.S. and beyond. Since December 2019, the company's largest shareholder has been Sumitovant or affiliated entities.

Julie & Holleman is investigating potential legal claims available to Myovant's shareholders regarding the proposed acquisition, including claims relating to potential conflicts resulting from the fact that Sumitovant controls the company and also has numerous commercial entanglements with the company. Numerous members of Myovant's board of directors were either designated by or affiliated with Sumitovant, which raises questions about the board's independence. Julie & Holleman is also concerned about the adequacy of the $27 per share acquisition price, as Myovant's stock has traded at temporary lows due to macroeconomic pressures, and Sumitovant is pouncing on short-term trends to acquire the company at a steep discount.

If you would like more information about Julie & Holleman's investigation, or about the acquisition in general, please contact W. Scott Holleman by email at [email protected] or by telephone at (929) 415-1020. You may also visit the firm's website by clicking here. There is no cost or obligation to you.

Julie & Holleman is a boutique law firm that focuses on shareholder litigation, including derivative actions, mergers and acquisitions cases, securities fraud class actions, and corporate investigations. The firm's attorneys litigate in state and federal courts across the nation. For more information about the firm, please visit https://www.julieholleman.com/. This notice may constitute attorney advertising.

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SOURCE Julie & Holleman LLP