Law Firm Brower Piven Announces Investigation of Omthera Pharmaceuticals, Inc. Proposed Buyout
29 Maio 2013 - 1:06PM
Business Wire
The securities litigation firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches
of fiduciary duty to current shareholders of Omthera
Pharmaceuticals, Inc. (“Omthera” or the “Company”) (Nasdaq: OMTH)
and other violations of state law by the board of directors of
Omthera relating to the proposed buyout of the Company by
AstraZeneca PLC. The firm’s investigation seeks to determine, among
other things, whether the board of directors of Omthera breached
their fiduciary duties by failing to maximize shareholder
value.
According to the press release announcing the proposed buyout,
Omthera shareholders will receive $12.70 per share in cash for each
share of Omthera common stock they own. In addition to the cash
payment, each Omthera stockholder will receive one Contingent Value
Right of up to approximately $4.70 for each share they own,
equating to $120 million, if specified milestones related to
Epanova are achieved, or if a milestone related to global net sales
is achieved.
If you currently own common stock of Omthera and would like to
learn more about the investigation being conducted by Brower Piven,
you may email or call Brower Piven, who will, without obligation or
cost to you, attempt to answer your questions. You may contact
Brower Piven by email at hoffman@browerpiven.com, by calling (410)
415-6616, or at Brower Piven, A Professional Corporation, 1925 Old
Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven
have combined experience litigating securities and other class
action cases of over 60 years.
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