The Law Firm of Weiss & Lurie Announces Investigation of Allos Therapeutics, Inc.
July 21 2011 - 6:39PM
Business Wire
Weiss & Lurie, a national class action and shareholder
rights law firm with offices in New York City and Los Angeles, is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Allos Therapeutics,
Inc. (Nasdaq: ALTH) arising from its proposed acquisition by AMAG
Pharmaceuticals, Inc. (Nasdaq: AMAG) in an all-stock transaction
valued at approximately $686 million. Under the terms of the
transaction, Allos shareholders will receive a fixed ratio of
0.1282 shares of AMAG common stock for each share of Allos common
stock. The proposed deal values Allos stock at only $2.09 per share
using AMAG’s Wednesday’s closing price of $16.31.
Weiss & Lurie is investigating whether the Company’s Board
acted in the best interests of shareholders in approving the
transaction and whether the Board properly sought to maximize
shareholder value by conducting an adequate and fair sales process.
Multiple analysts have set target prices for Allos stock well above
the price agreed to by Allos directors, with a high target price of
$8.00.
If you own Allos shares and would like more information about
your rights as a shareholder or additional information concerning
our investigation, please contact Michael A. Rogovin either by
email at info@weisslurie.com or by telephone at (888) 593-4771.
Weiss & Lurie has litigated hundreds of stockholder class
and derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
institutions and individuals and obtained important corporate
governance in these cases. If you have information or would like
legal advice concerning possible corporate wrongdoing (such as
insider trading, waste of corporate assets, accounting fraud, or
issuing materially misleading press releases or SEC filings),
consumer fraud (such as false advertising, defective products, or
other deceptive business practices), or anti-trust violations,
please email us at info@weisslurie.com or fill out the form on our
website, http://www.weisslurie.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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