Theravance discloses three shareholder lawsuits over Zymeworks merger, supplements proxy

Theravance Biopharma, Inc.

Three complaints filed in NY and CA courts (Aug 25, Aug 26, Sep 2, 2026) seek to enjoin merger and allege omitted info in proxy.
Company received 13 demand letters alleging disclosure deficiencies; denies all allegations and says no supplemental disclosure required.
Supplemental disclosures include Lazard's outreach to 60 potential counterparties, 20 confidentiality agreements, and implied equity value range of $15.25-$16.25 per share.
Net debt as of June 30, 2026 approx. $(385) million; fully diluted shares ~54.9M.
Evercore to receive $7M fee upon consummation of merger; shareholder meeting set for Sept 18, 2026.

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