Morgan & Morgan Announces That Class Action Lawsuits Have Been Filed in Connection With the Sale of Avanir Pharmaceuticals, I...
December 11 2014 - 10:12AM
Morgan & Morgan announces that class action lawsuits have been
filed in the Delaware Court of Chancery on behalf of public
stockholders of Avanir Pharmaceuticals, Inc. ("Avanir" or the
"Company") (Nasdaq:AVNR) challenging the proposed acquisition by
Otsuka Pharmaceutical Co., Ltd. ("Otsuka").
The complaints allege that on December 2, 2014, Otsuka and the
Company announced a definitive agreement under which Otsuka,
through its wholly-owned subsidiary Bigarade Corporation, will
acquire all of the outstanding shares of Avanir through a tender
offer to be commenced within ten business days (the "Proposed
Transaction"). In the Proposed Transaction, Avanir stockholders
will receive $17.00 per share of Avanir stock in a transaction
valued at approximately $3.5 billion.
As alleged in the complaint, Morgan & Morgan is
investigating whether the Company's Board of Directors breached
their fiduciary duties by failing to maximize shareholder value
and/or protect the interests of Avanir shareholders.
If you own shares of Avanir and want more information on the
Avanir Class Action Lawsuit, contact Morgan & Morgan at 1(800)
732-5200 or email info@morgansecuritieslaw.com
About Morgan & Morgan
Morgan & Morgan is one of the nation's largest 200 law
firms. In addition to securities fraud, the firm also practices in
the areas of antitrust, personal injury, consumer protection,
overtime, and product liability. All of the Firm's legal endeavors
are rooted in its core mission: provide investor and consumer
protection and always fight "for the people."
Attorney advertising. Prior results do not guarantee a similar
outcome.
CONTACT: Morgan & Morgan
Peter Safirstein, Esq.
28 West 44th Street
Suite 2001
New York, NY 10036
1-800-732-5200
info@morgansecuritieslaw.com