SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN) Investor Investigation Over Possible Wrongdoing In Acquisition Announced

If you purchased shares of SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN) and currently hold any of those NASDAQ:SCLN shares, you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
SciClone Pharmaceuticals
Affected Securities: 
NASDAQ: SCLN

July 03, 2017 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN), was announced concerning whether the takeover of SciClone Pharmaceuticals, Inc. for $11.18 per share is unfair to NASDAQ:SCLN stockholders.

The investigation by a law firm concerns whether certain officers and directors of SciClone Pharmaceuticals, Inc. breached their fiduciary duties owed to NASDAQ:SCLN investors in connection with the proposed acquisition.

On June 8, 2017, SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN) and a consortium consisting of entities affiliated with GL Capital Management GP Limited, Bank of China Group Investment Limited, CDH Investments, Ascendent Capital Partners and Boying (collectively, the "Buyer Consortium") announced that they have entered into a definitive merger agreement under which the Buyer Consortium will acquire all the outstanding shares of SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN) for $11.18 per share in cash.

However, given that at least one analyst has set the high target price for NASDAQ:SCLN shares at $14.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:SCLN stockholders. More specifically, the investigation concerns whether the SciClone Pharmaceuticals Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

SciClone Pharmaceuticals, Inc. reported that its annual Total Revenue rose from $157.26 million in 2015 to $160.10 million in 2016 and that its Net Income increased from $29.46 million in 2015 to $30.73 million in 2016.

Shares of SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN) reached as high as $13.97 per share in June 2016.