Bernstein Liebhard LLP Announces Investigation Of Acquisition Of Abraxis BioScience Inc. By Celgene Corp.
Bernstein Liebhard LLP is investigating whether the Board of Directors of Abraxis BioScience Inc. (“Abraxis” or the “Company”) (NASDAQ: ABII) breached its fiduciary duty to its shareholders in agreeing to sell Abraxis to Celgene Corp. (“Celgene”) (NASDAQ: CELG).
Under the terms of the agreement, Abraxis shareholders will receive 0.2617 shares of Celgene and $58 in cash for each share they own, placing the total value of the transaction at approximately $2.9 billion. The Company’s revenue from Abraxane, a breast cancer treatment, jumped 25% in the first quarter 2010, to $87.9 million. The investigation is focused on the potential unfairness of the price to Abraxis shareholders and the process by which the Abraxis Board of Directors considered and approved the transaction.
If you are interested in discussing your rights as an Abraxis shareholder and/or have information relating to the matter, please contact U. Seth Ottensoser at (877) 779-1414 or Ottensoser@bernlieb.com.
Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered almost $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last seven years.
|Bernstein Liebhard LLP|
|10 East 40th Street|
|New York, New York 10016|
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV