SHAREHOLDER ALERT: WeissLaw LLP Investigates Rexahn Pharmaceuticals, Inc.

PR Newswire

NEW YORK, June 26, 2020

NEW YORK, June 26, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Rexahn Pharmaceuticals, Inc. ("REXN" or the "Company") (NASDAQ: REXN) in connection with the proposed stock-for-stock merger of the Company with privately-held Ocuphire Pharma ("Ocuphire").  Upon consummation of the proposed merger, Ocuphire will own at least 85.7% of the newly-combined company, with REXN stockholders owning the remaining 14.3%.  Under the terms of the acquisition agreement, REXN will also be issued contingent value rights ("CVR") representing the right to receive (i) 90% of payments received by the combined company pursuant to its licensing agreements with BioSense Global LLC and Zhejiang HaiChang Biotechnology Co., Ltd. during the 15-year period after the closing of the merger; and (ii) 75% of the proceeds received by the combined company from the monetization of REXN existing intellectual property during the 10-year period after the  merger's close.  

If you own REXN shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

http://www.weisslawllp.com/rexahn-pharmaceuticals-inc/

Or please contact:

Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16^th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com

WeissLaw is investigating whether REXN's board was fully informed as to the valuation of the proposed merger given the complicated nature of the CVR component of the merger consideration,  whether the board acted to maximize shareholder value prior to entering into the acquisition agreement, and whether all information regarding the valuation of the deal will be available to REXN stockholders.  Notably, the meager 14.3 % stake in the combined company that REXN stockholders may be reduced to only 9.1% if Ocuphire waives the minimum net cash requirement.  

WeissLaw LLP 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

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SOURCE WeissLaw LLP