Robbins Umeda LLP Announces an Investigation of Allos Therapeutics, Inc.
20 Julho 2011 - 9:21PM
Business Wire
Robbins Umeda LLP, a shareholder rights litigation firm has
commenced an investigation into possible breaches of fiduciary duty
and other violations of state law by members of the board of
directors of Allos Therapeutics, Inc. (NASDAQ: ALTH) in connection
with their efforts to sell the company to AMAG Pharmaceuticals,
Inc. (NASDAQ: AMAG).
If you own stock in Allos and would like more information about
your shareholder rights, please contact attorney Gregory E. Del
Gaizo at 800-350-6003 or via the shareholder information form on
the firm's website.
On July 20, 2011, Allos announced it had entered into a
definitive merger agreement under which AMAG Pharmaceuticals will
acquire the company in an all-stock transaction. Under the terms of
the agreement, Allos shareholders will receive only 0.1282 shares
of AMAG Pharmaceuticals for each share of Allos they own. Based on
AMAG Pharmaceuticals' closing price on July 19, 2011, the figure
represents the monetary equivalent of $2.44 per share. The
transaction is expected to close as soon as the fourth quarter of
2011.
Robbins Umeda LLP's investigation focuses on whether Allos's
board of directors is undertaking a fair process to obtain maximum
value and adequately compensate shareholders in light of the
company's recent positive financial results. On May 10, 2011, the
company reported that its net loss decreased to $15.2 million for
the quarter, compared to $20.5 million in the same quarter of the
prior year. Additionally, the company reported that one of its
signature products, FOLOTYN, saw net sales increase 47% to $10.9
million, compared to just $7.4 million during the same quarter of
the prior year. Additionally, and perhaps most demonstratively,
several leading analysts have recently released target prices for
Allos that value the company's stock between $3.00 and $8.00 per
share, considerably higher than the offer from AMAG
Pharmaceuticals.
Robbins Umeda LLP represents individual and institutional
shareholders in derivative, direct, and class action lawsuits. The
firm's skilled litigation teams include former federal prosecutors,
former defense counsel from top multinational corporate law firms,
and career shareholder rights attorneys. For more information,
please go to http://www.robbinsumeda.com.
Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/allos-therapeutics-inc/
Attorney Advertising.
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