Law Office of Abe Shainberg Announces Investigation of Possible Breach of Fiduciary Duty by the Board of Trubion Pharmaceutic...
17 Agosto 2010 - 3:40PM
Business Wire
The Law Office of Abe Shainberg 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).
Under the terms of the deal, 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 36-month period,
post-closing. 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 in Trubion and wish to obtain additional
information, please contact Abe Shainberg, Esq. directly, via email
at as@ashainberglaw.com, by telephone at 212.425.7268, or visit
http://www.ashainberglaw.com/trubion.html.
Mr. Shainberg has expertise in prosecuting investor securities
litigation, is a certified and registered arbitrator and mediator
involving financial matters, and represents investors in various
matters nationwide.
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