We are investigating whether the directors of Oyster Point Pharma, Inc. (Nasdaq: OYST) (“Oyster”) acted in the best interests of Oyster shareholders in approving the sale of Oyster to Viatris Inc. (“Viatris”) for $11.00 per share in cash, plus a contingent value right (CVR).
If you remain an Oyster shareholder and have questions about your legal rights, you may contact our firm to discuss your options at no charge by completing and submitting the form below.
Why is there an investigation?
On November 7, 2022, Oyster announced that it had agreed to be acquired by Viatris for $11.00 per share in cash, plus a CVR that entitles Oyster stockholders to potentially receive an additional cash payment of up to $2.00 per share, subject to the achievement of certain commercial milestones related to Oyster’s FDA-approved dry eye disease therapy, Tyrvaya.
The agreement has been approved by the Oyster board of directors (“Board”).
Our investigation concerns whether Oyster’s Board acted in the best interests of Oyster shareholders in approving the sale, including whether the acquisition price adequately compensates Oyster shareholders, and whether all material information regarding the transaction has been fully disclosed.
Notably, according to an analysis of Wall Street price targets for Oyster in the last 90 days published on Seeking Alpha, there is a high price target for Oyster of $65.00 per share, an average price target of $28.60 per share, and a low price target of $15.00 per share, all of which are above the deal price.