The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Ceph...
May 02 2011 - 12:50PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Cephalon, Inc. (“Cephalon” or the “Company”) (Nasdaq: CEPH) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Teva
Pharmaceutical Industries Ltd. (Nasdaq: TEVA). Under the terms of
the transaction, Cephalon shareholders will receive $81.50 in cash
per share of Cephalon stock they own. The transaction has a total
enterprise value of approximately $6.8 billion.
Click here to learn how to join the action:
http://www.zlk.com/cephalon-ceph.html, or call: 877-363-5972.
The investigation concerns whether the Cephalon Board of
Directors breached their fiduciary duties to Cephalon stockholders
by failing to adequately shop the Company before entering into this
transaction and whether Teva Pharmaceutical Industries Ltd. is
underpaying for Cephalon shares, thus unlawfully harming Cephalon
stockholders. In particular, at least one analyst placed a price
target for Cephalon stock at $92 per share.
If you own common stock in Cephalon and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either
via email at jlevi@zlk.com or by telephone at (212) 363-7500,
toll-free: (877) 363-5972, or visit
http://www.zlk.com/cephalon-ceph.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. The attorneys at Levi & Korsinsky have been
appointed by numerous courts throughout the country to serve as
lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information, please
feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
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