|[July 09, 2014]
INVESTOR ALERT: Levi & Korsinsky, LLP Announces Investigation of Salix Pharmaceuticals, Ltd. and Its Board of Directors In Connection With the Sale of the Company to Cosmo Technologies Limited
NEW YORK --(Business Wire)--
Levi & Korsinsky is investigating the Board of Directors of Salix
Pharmaceuticals, Ltd. ("Salix" or "the Company") (Nasdaq:SLXP) for
possible breaches of fiduciary duty and other violations of state law in
connection with the sale of the Company to Cosmo Tech, a subsidiary of
Cosmo Pharmaceuticals S.p.A which will change its name to Salix
Pharmaceuticals, plc upon the completion of the merger.
Click here to learn more about the investigation: http://zlk.9nl.com/salix-pharmaceuticals-slxp,
or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of he transaction, Salix shareholders will receive one
share of the post-merger entity for each share of Salix they own. Salix
shareholders will own 80 percent of the newly combined company. The
investigation concerns whether the Board of Salix breached their
fiduciary duties to stockholders by failing to adequately shop the
Company before agreeing to enter into this transaction, and whether
Cosmo Pharmaceuticals S.p.A. is underpaying for Salix shares. Cosmo will
be able to designate one director to the Board of Salix Pharmaceuticals,
plc, and the post-merger entity will be subject to certain standstill
provisions for at least 10 years.
If you own Salix common stock and wish to obtain additional information,
please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/salix-pharmaceuticals-slxp.
Levi & Korsinsky is a national firm with offices in New York, New
Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have
extensive expertise in prosecuting securities litigation involving
financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. For more information, please feel
free to contact any of the attorneys listed below. Attorney advertising.
Prior results do not guarantee similar outcomes.
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