It appears they took down the class action lawsuit Relypsa/Butler post from Yhoo board which had posted and had received 7 thumbs-down prior to the post being taken down). They also took down an IHub link post which had to post thru IHub since my posts were getting blocked. The IHub link post read, “Don’t swallow what the crooks are desperately trying to feed you”
Here’s the content of the Relypsa class action post with 7 thumbs down which vanished (re-post if you will), as follows..
_______________________
Back in August 2016 a group of Relypsa shareholders filed a class action against Relypsa’s BOD — not first time John P. Butler would be involved in class action if class action were filed against Keryx/Butler for forcing a “merger” swindle.
Remember, BOD of both, Keryx and Akebia, have already unanimously approved the transaction.
_____________________________
“DANNY LU, Individually and on Behalf of All Others Similarly Situated, Plaintiff,
vs.
RELYPSA, INC., Daniek K. Spiegelmn, John P. Butler, Paul J. Hastings, Kenneth J Hillan, M.B.Ch.B., David W.J. McGirr, John A. Orwin, Thomas J. Schuetz M.D., Ph.D., and Helen Torley, M.N.Ch.B., M.R.C.P.,
This shareholder class action arises because Relypsa’s board forced through a sale of the Company in order to reap personal benefits they negotiated with the Buyer to the detriment of Relypsa’s public stockholders. The Board pushed through a merger pursuant to which the Buyer plans to acquire 100% of the outstanding shares of Relypsa common stock through an all-cash tender offer (the “Tender Offer”) followed by a second-step merger (the “Proposed Transaction”). The Buyer has offered Relypsa investors $32.00 per share in cash, or a total of approximately $1.53 billion (the “Offer Price” or “Merger Consideration”). The Agreement and Plan of Merger, is dated July 20, 2016...............
Page 17 of the Recommendation Statement indicates that “[o]n May 22, 2016, John Butler, a member of the Relypsa Board, delivered an e-mail to Mr. Spiegelman, Mr. Orwin and Ronald Krasnow, Senior Vice President and General Counsel of Relypsa, stating that, at that time, Mr. Butler intended to recuse himself from the meeting of the Relypsa Board on the following day and any future discussions to the extent they related to Galenica’s proposal to acquire Relypsa or any related transaction process.” The Recommendation Statement wholly fails to explain, however, why Mr. Butler recused himself and whether he believed he may have a conflict of interest in connection with the Proposed Transaction. Therefore, this information is necessary to ensure the statements related to Mr. Butler’s recusal are not false and misleading.”
_____________________________
As some of you know, while Butler on Relypsas’s Board, Sanofi entered into 2-year agreement by which Sanofi's nephrology sales force to complement Relypsa's efforts to commercialize Veltassa in U.S. As a result, much speculation on Sanofi acquiring Relypsa, including analysts.
When Relypsa and Vifor Pharma (Galenica Group) announced merger agreement it was deemed unexpected by many, looked upon upon as Vifor Pharma swooping Relypsa from under Sanofi to add Veltassa to its renal arsenal.
Relypsa’s Director Butler RECUSED himself from any meeting and discussions related to Galenica’s (Vifor Pharma’s parent company) proposal to acquire Relypsa or any related transaction process.
Sooo, why did Butler recuse himself from having anything to do and from voting on deal in favor of Vifor Pharma? Would he have voted in favor if it had been Sanofi? As Relypsa BOD Director, was Butler pushing for a Relypsa/Sanofi deal?
Keep in mind, Butler held various positions at Genzyme Corporation, now Sanofi, from 1997 to July 2011 — notably, Butler served as president, general manager of Genzyme’s Renal Division, which grew from $150 million to more than $1 billion in revenue under his leadership. (Renvela).
ALL IMO
AI
