Faruqi & Faruqi, LLP Announces Investigation of Allos Therapeutics, Inc.
July 20 2011 - 10:37AM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of Allos Therapeutics, Inc. (“Allos” or the “Company”)
(NASDAQ: ALTH) for potential breaches of fiduciary duties in
connection with their conduct related to the sale of the Company to
AMAG Pharmaceuticals, Inc. (“AMAG”) (NASDAQ: AMAG) in an all-stock
deal for about $285 million. Under the terms of the proposed
transaction, which has been approved by the boards of directors of
both companies, Allos shareholders will receive a fixed ratio of
0.1282 shares of AMAG common stock for each share of Allos common
stock they own, valuing the stock at $2.44 a share based on
yesterday’s close. According to Yahoo! Finance, at least one
financial analyst has set a price target of $8 for Allos.
Request more information now by clicking here:
www.faruqilaw.com/ALTH
Whether Allos’ Board of Directors breached their fiduciary
duties to the Company’s stockholders by failing to conduct an
adequate and fair sales process prior to agreeing to this proposed
transaction, whether the proposed transaction undervalues Allos’
shares and by how much this proposed transaction undervalues the
Company to the detriment of Allos’ shareholders are the key focus
of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm is
focused on providing exemplary legal services in complex litigation
in the areas of securities, shareholder, antitrust and consumer
litigation, through all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients.
If you own common stock in Allos and wish to obtain additional
information, please visit us at www.faruqilaw.com/ALTH or contact
Juan E. Monteverde, Esq. either via e-mail at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or
(212) 983-9330.
Faruqi & Faruqi, LLP 369 Lexington Avenue, 10th Floor New York,
NY 10017 Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll Free: (877) 247-4292 Phone: (212) 983-9330
Attorney Advertising. (C) 2011 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
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