TMCnet News
AUSPEX PHARMACEUTICALS, INC. SHAREHOLDER ALERT: Former SEC Attorney Willie Briscoe and Powers Taylor LLP Believe the Acquisition by Teva Pharmaceutical Industries Ltd. May be Unfair to ShareholdersFormer United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating potential claims against the Board of Directors of Auspex Pharmaceuticals, Inc. ("Auspex") (NASDAQ: ASPX) concerning the acquisition by Teva Pharmaceutical Industries Ltd. Under the terms of the agreement, valued at approximately $3.5 billion, Auspex shareholders will only receive $101.00 per share owned. The consideration is significantly lower than at least one analyst's estimated value of $105.00.
The investigation centers on whether Auspex's Board of Directors is acting in the shareholders' best interests, whether the board considered alternatives to the acquisition, and whether the board has employed an adequate process to review and act on the proposed transaction. Notably, at least one Wall Street analyst believes the true inherent value of Auspex could be as high as $105.00 per share. 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.
|