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Revance Therapeutics

We are investigating the fairness of the proposed sale of Revance Therapeutics, Inc. (Nasdaq: RVNC) (“Revance”) to Crown Laboratories, Inc. (“Crown”) for $6.66 per share in cash in a tender offer. The sales price is substantially below the price target for Revance of multiple Wall Street analysts, including Stacy Ku of TD Cowen with a price target of $25.00 per share, and Annabel Samimy of Stifel Nicolaus with a price target of $20.00 per share (source: TipRanks).

If you remain a Revance shareholder and question the fairness of the price, you may contact our firm to discuss your legal rights at no charge by completing and submitting the form below.

Why is there an investigation?
On August 12, 2024, Revance announced that it had agreed to be sold to Crown for $6.66 per share in cash in a tender offer.

Notably, according to TipRanks, the sales price of $6.66 per share is substantially below the price target of multiple Wall Street analysts, including:

  • Stacy Ku of TD Cowen ($25.00 per share)
  • Annabel Samimy of Stifel Nicolaus ($20.00 per share)
  • Seamus Fernandez of Guggenheim ($16.00 per share)
  • Serge Belanger of Needham ($12.00 per share)
  • Douglas Tsao of H.C. Wainwright ($11.00 per share)

The sales price is also below Revance’s 52-week high of $20.38 per share, which indicates that the purchase may be opportunistic.

“We are investigating whether the Revance Board of Directors acted in the best interests of Revance shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Revance shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”

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Joshua Fruchter
845-290-6818
alerts@wohlfruchter.com

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