We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Surface Oncology, Inc. (“Surface” or the “Company”) (NASDAQ: SURF), in connection with its proposed acquisition by Coherus BioSciences, Inc. (NASDAQ: CHRS).  Under the merger agreement, the Company’s shareholders will receive $5.2831 per share, plus contingent value rights (“CVRs”), subject to certain deductions as set forth in the contingent value rights agreement and payable for a period of ten years following the closing of the transaction.

Weiss Law is investigating whether (i) Surface’s board acted in the best interests of Company shareholders in agreeing to the merger, (ii) the $5.2831 merger consideration and CVR adequately compensate Surface’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.  Notably, at least one analyst set a price target for the Company of $6 per share, $0.72 above the merger price.

Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com