SHAREHOLDER ALERT: Brower Piven Commences an Investigation into the Proposed Sale of Alexza Pharmaceuticals, Inc. & Encourage...
May 13 2016 - 11:15PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Alexza Pharmaceuticals, Inc.
(“Alexza” or the “Company”) (Nasdaq: ALXA) relating to the proposed
buyout of the Company by Ferrer Pharma, Inc.
Under the terms of the agreement, Alexza shareholders are
anticipated to receive $0.90 in cash for each share of Alexza
stock they own. In addition, Alexza shareholders will receive one
contingent value right entitling them to receive a pro-rata share
of up to four payment categories in an aggregate maximum amount
of $35 million. However, the contingent value right payment is
not guaranteed and will only be paid if specified milestones are
achieved.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company’s shares of common
stock. According to Yahoo! Finance, at least one Wall Street
analyst has issued a price target for Alexza stock at $1.25 per
share.
If you currently own common stock of Alexza and believe that the
proposed buyout price is too low, or you would like to learn more
about the investigation being conducted by Brower Piven, please
visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
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Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com