NEW YORK, June 18, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Array
BioPharma ("Array" or the "Company") (NASDAQ: ARRY) in connection
with the proposed acquisition of the Company by Pfizer Inc.
("Pfizer") (NYSE:PFE). Under the terms of the agreement, Array
shareholders will receive $48 per
share in cash for each ARRY share they own.
If you are a shareholder of Array who wishes
to discuss the investigation or have any questions about this
notice and your rights or interests, please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888)593-4771
stockinfo@weisslawllp.com
Or visit our website
http://www.weisslawllp.com/array-biopharma/
Or follow us on Twitter
@MarketsAlert
WeissLaw is investigating whether Array's Board acted to
maximize shareholder value prior to entering into the agreement.
Notably, the acquisition is a strategic transaction which Pfizer
hopes to leverage ARRY's wide range of targeted cancer medicines to
propel it as an industry leader. According to Albert Bourla, Pfizer's CEO, the deal will
strengthen Pfizer's "innovative biopharmaceutical business, is
expected to enhance its long-term growth trajectory, and sets the
stage to create a potentially industry leading franchise for
colorectal cancer." The deal will also expand Pfizer portfolio to
include multiple high-potential investigational therapies and
numerous royalty-generating out-licensed medicines.
Finally, the Company recently announced positive financial
results, reporting robust US demand for its marquee products with
over $35 million in net sales, and a
more than 200% increase in ARRY's share price since
January.
WeissLaw is also concerned whether the deal creates shareholder
value for Array's shareholder. Specifically, WeissLaw is
investigating whether Array's Board conducted a fair process in
agreeing to the proposed merger, whether the proposed merger
undervalues the Company, and whether all material information
related to the proposed merger is fully and fairly
disclosed.
WeissLaw LLP 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
clients and obtained important corporate governance relief in many
of these cases. If you have information or would like legal
advice concerning possible corporate wrongdoing (including insider
trading, waste of corporate assets, accounting fraud, or materially
misleading information), consumer fraud (including false
advertising, defective products, or other deceptive business
practices), or anti-trust violations, please email us at
stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP