Forty Seven, Inc. (NASDAQ: FTSV)
According to the Complaint, Forty Seven, Inc. is a clinical-stage immuno-oncology company that is developing therapies targeting cancer immune evasion pathways and specific cell targeting approaches based on technology licensed from Stanford University.
This action stems from a proposed transaction announced on March 2, 2020, pursuant to which Forty Seven, Inc.
will be acquired by Gilead Sciences, Inc.
On March 1, 2020, Forty Seven’s Board of Directors caused the Company to enter into an agreement and plan of merger with Gilead.
On March 10, 2020, Defendants filed a Solicitation/Recommendation Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Solicitation Statement omits material information with respect to the Proposed Transaction, which renders the Solicitation Statement false and misleading.