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NEW YORK, July 22, 2015 (GLOBE NEWSWIRE) -- Stull, Stull & Brody (www.ssbny.com) announces that a class action has been filed and that it is investigating potential claims on behalf of shareholders of Receptos, Inc. (NASDAQ:RCPT) ("Receptos" or the "Company") concerning whether the Company's Board of Directors breached its fiduciary duty by entering into an agreement and plan of merger under which all of the Company's outstanding shares will be acquired by Celgene Corporation for $232.00 per share in cash.
The current investigation is focused upon whether the Company's Board of Directors breached its fiduciary duty to maximize value to the Company's shareholders and to act in shareholders' best interests, including whether the Board of Directors undertook an adequate sales process and disclosed all material information to the Company's shareholders.
While the terms of the proposed transaction provide that the Company's shareholders will receive $232.00 per share in cash, at least one analyst has set a target price of $348.00 per share for the Company's stock.
Shareholders of Receptos may contact Michael J. Klein, Esq. at Stull, Stull & Brody to discuss their rights in connection with the proposed transaction by calling 1-800-337-4983, extension 147, or by email at email@example.com.
Stull, Stull & Brody has represented shareholders in merger litigation and other securities class actions for over 40 years and has obtained court approval of substantial settlements on numerous occasions.
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