SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Synageva BioPharma Corp. And Encourages ...
13 Mayo 2015 - 3:37PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Synageva BioPharma Corp.
(“Synageva” or the “Company”) (Nasdaq: GEVA) relating to the
proposed buyout of the Company by Alexion Pharmaceuticals, Inc.
Under the terms of the transaction, Synageva shareholders are
anticipated to receive $115 in cash and 0.6581 shares of Alexion
for each share of Synageva they own. Based on Alexion’s closing
price on May 5, 2015, Synageva shareholders would have received
compensation valued at approximately $225.92 per share. The
transaction may undervalue Synageva and may result in a substantial
loss for many shareholders. For example, according to Yahoo!
Finance, at least one Wall Street analyst has issued a price target
for Synageva stock at $230.00 per share.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company’s shares of common
stock.
If you currently own common stock of Synageva and believe that
the proposed buyout price is too low, or you would like to learn
more about the investigation being conducted by Brower Piven,
please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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