DALLAS, Jan. 9, 2012 /PRNewswire/ -- Former United States
Securities and Exchange Commission attorney Willie Briscoe and the
securities litigation firm of Powers Taylor, LLP are investigating
the sale of Inhibitex, Inc. ("Inhibitex" or "INHX") (NASDAQ: INHX)
to Bristol-Myers Squibb Company. Under the proposed
transaction, Inhibitex shareholders will receive $26.00 in cash for each share of Inhibitex/INHX
stock owned.
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If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@powerstaylor.com, or
Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to
you.
The definitive acquisition agreement involves an all cash
transaction valued at approximately $2.5
billion.
The investigation centers on whether Inhibitex shareholders are
receiving adequate compensation for their shares in the buyout,
whether the transaction undervalues Inhibitex's stock, and whether
Inhibitex's board attempted to obtain the highest share price for
all shareholders prior to agreeing to the deal. According to
shareholder rights attorney Willie
Briscoe, "Although the acquisition price represents a
premium over the closing price of Inhibitex shares the day prior to
the buyout announcement, Inhibitex shares closed above $15.50 per share as recently as early December
2011. Based on these and other factors, we are investigating
whether the transaction undervalues Inhibitex stock. Our
lawsuit will seek to obtain the highest share price for all
shareholders."
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.
SOURCE Powers Taylor, LLP