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Sunesis Pharmaceuticals, Inc.

Merger

  • Date:
  • 11/30/2020
  • Company Name:
  • Sunesis Pharmaceuticals, Inc.
  • Stock Symbol:
  • SNSS
  • Company Name - Buyer:
  • Viracta Therapeutics, Inc.
  • Status:
  • Investigating
  • Merger Announcement Date:
  • 11/30/2020

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NEW YORK, November 30, 2020 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by an investor group led by Viracta Therapeutics, Inc.
 

On November 30, 2020, Sunesis announced that it had signed an agreement to be acquired by Viracta.  Pursuant to the merger agreement, at the close of the deal Sunesis stockholders will own approximately 14% of the combined company.  The deal is scheduled to close in the first quarter of 2021.

Bragar Eagel & Squire is concerned that Sunesis’ board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement.  Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Sunesis’ stockholders.

The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in Sunesis Pharmaceuticals. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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