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NEW YORK, July 22, 2015 (GLOBE NEWSWIRE) -- Morgan & Morgan announces that a shareholder class action has been filed in the Delaware Court of Chancery against the Board of Directors of Receptos, Inc. ("Receptos" or "the Company") (Nasdaq:RCPT) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Celgene Corporation ("Celgene").
If you own shares of Receptos and would like to learn more about the Receptos shareholder investigation, you may contact Morgan & Morgan at 1(800) 732-5200 or email email@example.com.
Under the terms of the transaction, Receptos shareholders will receive only $232.00 in cash for each share of Receptos stock they own. The proposed transaction is valued at approximately $7.2 billion. The complaint alleges that the Board of Receptos breached their fiduciary duties to shareholders by agreeing to the proposed transaction for inadequate consideration. The transaction may undervalue the Company given Receptos has a strong pipeline which includes drug candidates for immune diseases.
About Morgan & Morgan
Morgan & Morgan is one of the nation's largest 200 law firms. In addition to shareholder rights, the firm also practices in the areas of antitrust, personal injury, consumer protection, overtime, and product liability. All of the Firm's legal endeavors are rooted in its core mission: provide investor and consumer protection and always fight "for the people."
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CONTACT: Morgan & Morgan Peter Safirstein, Esq. 28 West 44th Street Suite 2001 New York, NY 10036 1-800-732-5200 firstname.lastname@example.orgNEXT ARTICLE
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