Allos Therapeutics, Inc. Merger Litigation (Nasdaq: ALTH)
Law Office of Brodsky & Smith, LLC Announces Investigation of Allos Therapeutics, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Allos Therapeutics, Inc. (“Allos” or the “Company”) (Nasdaq - ALTH- News) relating to the proposed acquisition by AMAG Pharmaceuticals, Inc (Nasdaq – AMAG) (“AMAG”).
Under the terms of the transaction Allos shareholders would receive a fixed ratio of 0.1282 shares of AMAG stock for each share Allos stock they own. The transaction values Allos stock at approximately $2.44 a share. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Allos for not acting in the Company’s shareholders' best interests in connection with the sale process to AMAG. The transaction may undervalue Allos as Allos stock traded at $2.96 as recently as May 2, 2011 and traded at $5.77 on July 23, 2010. Additionally, an analyst has set a price target of $8.00 for the Company.
If you own shares of Allos stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com, or by calling toll free 877-LEGAL-90.
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