Ryan & Maniskas, LLP (
) is investigating potential claims against the board of directors of Abraxis BioScience, Inc. ("Abraxis" or the "Company") (NASDAQ: ABII) concerning possible breaches of fiduciary duty and other violations of law related to the Company's entry into an agreement to be acquired by Celgene Corporation (“Celgene”) in a transaction valued at approximately $2.9 billion.
Our investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by Company’s board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of Abraxis. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at
Under the proposed agreement, each share of Abraxis common stock will be converted into the right to receive an upfront payment of $58.00 in cash and 0.2617 shares of Celgene common stock. Each share will also receive one tradeable Contingent Value Right (CVR), which entitles its holder to receive payments for future regulatory milestones and commercial royalties.
If you own shares of Abraxis and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit:
. You may also email Mr. Maniskas at
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Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan and Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.