NEW YORK, Sept. 25, 2019 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:

To: All Persons or Entities who purchased Proteon Therapeutics, Inc. (“Proteon” or the “Company”) (NASDAQ: PRTO) stock prior to September 23, 2019.

You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger of Proteon with ArTara Therapeutics, Inc. (“ArTara”). Under the terms of the deal, on a pro-forma basis after closing of the merger and the closing of the financing, the current Proteon stockholders will own approximately 10% of the combined company, while ArTara security holders and new investors will own approximately 90% (on a fully diluted basis). To learn more about the action and your rights, go to:

https://www.zlk.com/mna/proteon-therapeutics-inc

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.

The Proteon merger investigation concerns whether the Board of Proteon breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether the merger undervalues Proteon shares, thus unlawfully harming Proteon shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com