Kendall Law Group Investigates Allos Therapeutics, Inc.
July 20 2011 - 10:37AM
Business Wire
Kendall Law Group, led by former federal judge Joe Kendall, is
investigating Allos Therapeutics, Inc. (NASDAQ: ALTH) for
shareholders in connection with the proposed acquisition by AMAG
Pharmaceuticals, Inc. The national securities firm’s investigation
seeks to determine whether Allos Therapeutics and its Board
breached their fiduciary duties by entering into the agreement
without properly shopping for a deal that would provide better
value for shareholders. If you are an Allos Therapeutics
shareholder and would like additional information about your
rights, contact the Kendall Law Group at 877-744-3728 or by email
at investor@kendalllawgroup.com.
On July 20, 2011, the companies announced the definitive merger
agreement under which Allos Therapeutics would be acquired by AMAG
Pharmaceuticals, in a transaction valued at approximately $260
million. Under the terms of the agreement, Allos Therapeutics
stockholders will receive a fixed ratio of 0.1282 shares of AMAG
common stock for each share of Allos Therapeutics/ALTH common stock
held. The deal values Allos Therapeutics stock at $2.44 a share
using AMAG Pharmaceuticals' Tuesday closing price of $19.07.
According to Thompson/First Call, analysts have set a price target
as high as $8.00 per share for Allos Therapeutics’ stock. The
firm’s investigation seeks to determine whether Allos Therapeutics
and its Board undertook a fair process in negotiating the deal.
Kendall Law Group was founded by a former federal judge,
includes a former United States Attorney, prosecutors and
securities lawyers who are experienced in complex securities
litigation. The firm has been counsel in numerous merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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