Forest Laboratories Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor LLP Investigate Sale to Actavis
February 18 2014 - 11:47AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor
LLP are investigating potential claims against the Board of
Directors of Forest Laboratories, Inc. (“Forest Laboratories”)
(NYSE: FRX) related to the sale of FRX to Actavis PLC in an
acquisition valued at approximately $25 billion. Under the terms of
the definitive buyout agreement, Forest Laboratories shareholders
will receive just $26.04 in cash and 0.3306 Actavis shares for each
share of FRX owned. Based on the trading price of Actavis shares
the day prior to the buyout announcement, the value to Forest
Laboratories shareholders is only $89.48 per share of FRX, which is
well below at least one analyst’s value of $91.00 per share.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Willie Briscoe at The
Briscoe Law Firm, PLLC, (214) 239-4568, or via email at
WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor
LLP, toll free (877) 728-9607, via e-mail at
shareholder@powerstaylor.com. There is no cost or fee to you.
The Forest Laboratories’ investigation centers on whether Forest
Laboratories’ Board of Directors is acting in the shareholders’
best interests, whether the board is properly considering the
proposed price for the shareholders, and whether the board has
employed an adequate process to review and act on the proposed
transaction. Notably, at least one analyst with Yahoo! Finance
estimates that FRX shares could be worth as high as $91.00 per
share.
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles
a variety of complex business litigation matters, including claims
of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
The Briscoe Law Firm, PLLCWillie Briscoe,
214-239-4568WBriscoe@TheBriscoeLawFirm.comorPowers Taylor
LLPPatrick Powers, 877-728-9607shareholder@powerstaylor.com
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