NEW YORK, Feb. 11, 2014 /PRNewswire/ -- Pomerantz LLP
is investigating claims on behalf of investors of Cadence
Pharmaceuticals, Inc. ("Cadence" or the "Company")
(NasdaqGS: CADX) (ISIN: US12738T1007) (CUSIP: 12738T100)
concerning the proposed acquisition of Cadence by Mallinckrodt plc.
The investigation concerns whether the Cadence directors are
breaching their fiduciary duties by failing to adequately shop the
Company and maximize shareholder value. Under the terms of
the agreement, shares of Cadence will be converted into the right
to receive $14.00 in cash for each
share of Cadence common stock. However, at least one analyst
set a target price of $15.00 per
share for Cadence common stock.
Cadence shareholders seeking more information about this
acquisition are advised to contact Robert
Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or
888-476-6529, ext. 237.
Pomerantz LLP, with offices in New
York, Chicago, Florida, and San
Diego, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz LLP pioneered the field of securities class actions.
Today, more than 75 years later, the Pomerantz LLP continues in the
tradition he established, fighting for the rights of the victims of
securities fraud, breaches of fiduciary duty, and corporate
misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of defrauded investors. See
www.pomerantzlaw.com.
CONTACT:
Robert
Willoughby
Pomerantz LLP
212-661-1100 ext. 237
rswilloughby@pomlaw.com
SOURCE Pomerantz LLP