The Law Office of Joseph Klein Announces Investigation of Possible Breach of Fiduciary Duty by the Board of Trubion Pharmaceu...
13 Août 2010 - 6:49PM
Business Wire
The Law Office of Joseph Klein is investigating the Board of
Trubion Pharmaceuticals Inc. (NasdaqGM: TRBN) for possible breaches
of fiduciary duty and other violations of state law regarding the
sale of the company to Emergent BioSolutions Inc. (NYSE: EBS).
Concerned shareholders should contact Joseph Klein directly at
jk@jkleinlawfirm.com, or toll-free at: (877) STOK-180
(877-786-5180).
Under the terms of the transaction, each share of Trubion common
stock will be converted into the right to receive $1.365 per share
in cash and 0.1641 shares of Emergent stock. Based on Emergent's
common stock price for the prior five days, the transaction values
Trubion stock at $4.55 per share and the transaction at
approximately $96.8 million. In addition, Trubion shareholders will
receive one contingent value right ("CVR") per share, which will
entitle the holder to receive cash payments based upon the
achievement of certain milestones. The total potential aggregate
value of the CVRs is $38.7 million over a three year period.
The investigation concerns whether the Trubion Board of
Directors breached their fiduciary duties to Trubion stockholders
by failing to adequately shop the Company before entering into this
transaction and whether Emergent is underpaying for Trubion shares.
At least one analyst set a price target for Trubion stock at $7.00
per share.
If you own shares of Trubion and wish to obtain additional
information about this investigation, please contact Joseph Klein,
Esq. directly, via email at jk@jkleinlawfirm.com, by telephone Toll
Free: 877-STOK-180 (877-786-5180), or visit
http://www.jkleinlawfirm.com/trubion-trbn.html.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation.
CONTACT:
Joseph Klein, Esq.1560 East 27th StreetBrooklyn, NY
11229Telephone: (718) 947-0005Fax: (718) 799-1443Toll Free: (877)
STOK-180 (877-786-5180)
E-Mail: jk@jkleinlawfirm.comThe Web: www.jkleinlawfirm.com
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