Ardea Biosciences, Inc. Board of Directors Under Investigation for Potential Breaches of Fiduciary Duty by Law Offices of How...
April 24 2012 - 11:06AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the Board of Directors of
Ardea Biosciences, Inc. (“Ardea” or the “Company”) (NASDAQ: RDEA)
related to the proposed acquisition of the Company by AstraZeneca.
The transaction is valued at approximately $1.26 billion or $32 per
share.
This investigation concerns whether the Board of Directors of
Ardea breached their fiduciary duties to stockholders by failing to
adequately shop the Company before agreeing to enter into the
proposed transaction, and whether the Company has disclosed all
material information to shareholders about the transaction. The
Company has seen substantial recent growth. Further, at least one
analyst has set a target price for the Company’s stock at $40.00
per share.
If you are a shareholder of Ardea, if you have information or
would like to learn more about our investigation, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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