Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Momenta Pharmaceuticals, Inc. (NASDAQ: MNTA) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Johnson & Johnson (NYSE: JNJ) (“JNJ”).
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On August 19, 2020, Momenta announced that it had signed an agreement to be acquired by JNJ for approximately $6.5 billion. Pursuant to the merger agreement, Momenta’s stockholders will receive $52.50 in cash for each share of Momenta common stock owned. The deal is scheduled to close in the second half of 2020.
Bragar Eagel & Squire is concerned that Momenta’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed