Somaxon Pharmaceuticals Investor Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Pernix Therapeutics
12 Décembre 2012 - 3:41PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of Somaxon Pharmaceuticals, Inc.
(“Somaxon”) (Nasdaq: SOMX) to Pernix Therapeutics Holdings, Inc.
for shareholders. Under the terms of the proposed deal valued at
approximately $25 million, Somaxon shareholders will receive Pernix
common stock which will be based on the volume-weighted average
price of Pernix's common stock over the 30 day period ending on the
day immediately prior to the closing of the proposed merger in a
price range of $6.00 to $9.00 per share.
If you are an affected investor, and you want to learn more
about the lawsuit 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, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The Somaxon sale investigation centers on whether Somaxon’s
shareholders are receiving adequate compensation for their shares
in the buyout, whether the transaction undervalues Somaxon’s stock,
and whether Somaxon’s board attempted to obtain the highest share
price for all shareholders prior to agreeing to the deal. According
to shareholder rights attorney Patrick Powers, “due to the fact
that this is an all stock transaction and other factors, we believe
that this transaction may undervalue Somaxon’s stock. Our lawsuit
will seek to obtain the highest share price for all
shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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