Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Astex Pharmaceuticals, Inc. (“Astex” or the “Company”) (NASDAQ GS: ASTX) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Otsuka Pharmaceutical Co., Ltd. (“Otsuka”) in a transaction valued at approximately $886 million.
Click here to learn more: http://www.rigrodskylong.com/investigations/astex-pharmaceuticals-inc-astx.
The investigation concerns whether Astex’s board of directors failed to adequately shop the Company and obtain the best possible value for Astex’s shareholders before entering into an agreement with Otsuka.
Market professionals have reacted very negatively to the deal. For example, a September 5, 2013 Bloomberg article titled “Otsuka Bid for Astex Seen Undervaluing Cancer-Drug Maker” quoted an analyst with Brean Capital LLC as saying that “Astex should settle for nothing less than $13 a share.” That same article quoted an Astex shareholder as stating that “[t]his will go down as the biggest rip-off of investors in biotech history.”
If you own the common stock of Astex and purchased your shares before September 5, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth Rigrodsky or Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/astex-pharmaceuticals-inc-astx.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
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