Law Office of Brodsky & Smith, LLC Announces Investigation of Allos Therapeutics, Inc.
July 20 2011 - 4:05PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Allos Therapeutics, Inc. (“Allos” or the “Company”) (Nasdaq: ALTH)
relating to the proposed acquisition by AMAG Pharmaceuticals, Inc
(Nasdaq: AMAG) (“AMAG”).
Under the terms of the transaction Allos shareholders would
receive a fixed ratio of 0.1282 shares of AMAG stock for each share
Allos stock they own. The transaction values Allos stock at
approximately $2.44 a share. The investigation concerns possible
breaches of fiduciary duty and other violations of state law by the
Board of Directors of Allos for not acting in the Company’s
shareholders' best interests in connection with the sale process to
AMAG. The transaction may undervalue Allos as Allos stock traded at
$2.96 as recently as May 2, 2011 and traded at $5.77 on July 23,
2010. Additionally, an analyst has set a price target of $8.00 for
the Company.
If you own shares of Allos stock and wish to discuss the legal
ramifications of the proposed transaction, or have any questions,
you may e-mail or call the law office of Brodsky & Smith, LLC
who will, without obligation or cost to you, attempt to answer your
questions. You may contact Jason L. Brodsky, Esquire or Evan J.
Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, visiting
http://brodsky-smith.com/318-alth-allos-therapeutics-inc.html, or
by calling toll free 877-LEGAL-90.
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