The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Allos Therapeutics, Inc.
21 Juillet 2011 - 3:40AM
Business Wire
The merger of Allos Therapeutics, Inc. (“Allos Therapeutics” or
“ALTH”) (NASDAQ: ALTH) and AMAG Pharmaceuticals, Inc. is being
investigated on behalf of shareholders by former United States
Securities and Exchange Commission attorney Willie Briscoe and the
securities litigation firm of Powers Taylor, LLP. Allos
Therapeutics recently entered into an acquisition agreement under
which Allos Therapeutics shareholders will receive a fixed ratio of
only 0.1282 shares of AMAG shares for each share of Allos
Therapeutics/ALTH owned.
If you are an affected shareholder, and you want to learn more
about the investigation or join the action, contact Patrick Powers
at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC toll free (877) 397-5991, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The definitive acquisition agreement involves a stock-for-stock
transaction valued at approximately $260 million. The transaction
is expected to close in the fourth quarter of 2011.
“We are investigating the fairness of the proposed transaction
to Allos Therapeutics shareholders, whether the shareholders are
being underpaid for their stock, and whether Allos Therapeutics’
Board of Directors acted in the shareholders’ best interests,” said
shareholder rights attorney Willie Briscoe. In particular, based on
AMAG Pharmaceutical’s closing price the day prior to the
acquisition announcement, the acquisition price represents a value
of only $2.44 per share to Allos Therapeutics/ALTH shareholders. In
addition, according to Thompson/First Call, at least one analyst
has set a target price of $8.00 per share for Allos
Therapeutics/ALTH shares. “Based on these and other factors, our
anticipated lawsuit will seek to obtain the highest share price for
all shareholders,” said Willie Briscoe.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation firm that handles a
variety of complex business litigation matters nationwide,
including claims of investor and stockholder fraud, shareholder
oppression, shareholder derivative suits, and security class
actions.
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