The Briscoe Law Firm, PLLC & Cash Powers Taylor, LLP Announce the Investigation of Possible Breaches of Fiduciary Duties Conc...
13 Agosto 2010 - 11:52AM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the law firm of Powers Taylor, LLP are
investigating potential legal claims against the Board of Directors
of Trubion Pharmaceuticals, Inc. (“TRBN” or “Company”) (NASDAQ:
TRBN) related to the proposed acquisition of TRBN by Emergent
BioSolutions, Inc.
According to the agreement, which was announced on Thursday,
August 12, 2010, each share of Trubion common stock will be
converted into the right to receive an upfront payment of $1.365
per share in cash and 0.1641 shares of Emergent common stock. This
transaction is valued at approximately $97 million. Additionally,
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
36-month period. The investigation relates to possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of TRBN for approving this transaction, whether the
consideration to be received by TRBN shareholders is fair, and
whether TRBN’s board of Directors acted in the shareholders’ best
interests.
If you currently own shares of TRNB and would like additional
information regarding this investigation, or if you have
information regarding the allegations involving this transaction,
please contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@powerstaylor.com, or 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 Briscoe Law Firm is a full service business litigation,
commercial transaction, and public 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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