DURATA SHAREHOLDER ALERT: Johnson & Weaver, LLP Launches an Investigation into the Proposed Sale of Durata Therapeutics, Inc....
October 06 2014 - 9:32AM
Business Wire
Shareholder rights law firm Johnson & Weaver, LLP has
launched an investigation into whether the board members of Durata
Therapeutics, Inc. (NASDAQ: DRTX) breached their fiduciary duties
in connection with the proposed sale of the Company to Actavis
plc.
Additional Information:
Durata Therapeutics, a pharmaceutical company, focuses on the
development and commercialization of novel therapeutics for
patients with infectious diseases and acute illnesses.
On October 6, 2014, Durata announced it had signed a definitive
merger agreement with Actavis plc. Under the terms of the
transaction, Durata shareholders will receive $23.00 per share in
cash, or approximately $675 million in the aggregate, and
contingent value rights (CVRs) entitling the holder to receive
additional cash payments of up to $5.00 per share if certain
regulatory or commercial milestones related to Durata's lead
product DALVANCETM are achieved.
The investigation concerns whether Durata’s board failed to
satisfy their duties to the Company’s shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for the Company’s shares of common stock. Nationally recognized
Johnson & Weaver, which focuses its practice on shareholder
rights, is investigating whether the proposed deal price represents
adequate consideration, especially given the Company’s recent
success and promise of future growth. Moreover, Actavis expects the
deal to be accretive to earnings by the end of the first year.
If you are a shareholder of Durata and believe the
proposed buyout price is too low or you’re interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim Baker (jimb@johnsonandweaver.com)
at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New York and Georgia.
The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For
more information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
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