MURRAY FRANK LLP Announces Investigation of Pharmaceutical Product Development, Inc.
October 05 2011 - 5:30PM
Business Wire
MURRAY FRANK LLP is investigating claims of breach of fiduciary
duties by certain members of the board of directors of
Pharmaceutical Product Development, Inc. (NYSE: PPDI) (“PPD” or the
“Company”) in relation to the acquisition of the Company by private
equity firms Carlyle Group (“Carlyle”) and Hellman & Friedman
LLC (“Hellman & Friedman”).
On October 3, 2011, PPD announced that the Company had entered
into an Agreement and Plan of Merger with Carlyle and Hellman &
Friedman pursuant to an all-cash transaction under which PPD
stockholders will receive $33.25 in exchange for each share of PPD
common stock, an aggregate value of approximately $3.9 billion.
The investigation seeks to determine whether certain members of
the board of directors breached their fiduciary duties in
connection with their efforts to sell PPD to Carlyle and Hellman
& Friedman at an inadequate price through an unfair process
which significantly undervalues the Company.
If you are a current investor in PPD, who purchased PPDI shares
before October 3, 2011, and you wish to discuss this investigation
or have any questions concerning this notice or your rights or
interests with respect to these matters, please contact Bridget V.
Hamill at (800) 497-8076 or (212) 682-1818, or by email at
investigations@murrayfrank.com.
Pharmaceutical Product Developme (NASDAQ:PPDI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Pharmaceutical Product Developme (NASDAQ:PPDI)
Historical Stock Chart
From Apr 2023 to Apr 2024
