The Law Office Of Joseph Klein Investigates Possible Breach Of Fiduciary Duty By The Board Of Abraxis BioSciences Inc. - ABII
The Law Office of Joseph Klein, Esq. is investigating the Board of Directors of Abraxis BioSciences Inc. (“Abraxis” or the “Company”) (NasdaqGS: ABII) for possible breaches of fiduciary duty and other violations of state law in connection with the Board’s attempt to sell the Company to Celgene Corporation ("Celgene") (NasdaqGS: CELG) for $58 in cash and 0.2617 shares of Celgene stock for each Abraxis share owned by shareholders. The proposed transaction values Abraxis stock at approximately $71.93 per share for a total transaction value of approximately $2.9 billion, net of cash. Each Abraxis shareholder will also receive one tradable contingent value right for each share that entitles its holder to receive payments for future regulatory milestones and commercial royalties.
The investigation focuses on whether Abraxis’ Board breached its fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether Celgene is underpaying for Abraxis shares, thus unlawfully harming Abraxis’ stockholders.
If you own common stock in Abraxis and wish to obtain additional information, please contact Joseph Klein, Esq. via email at firstname.lastname@example.org, by telephone at (718) 947-0005 or visit http://kleinstocklaw.com/abraxis-bioscience.html
Joseph Klein, Esq. is an experienced attorney and has also practiced as
a Certified Public Accountant. Mr. Klein represents investors and
participates in securities litigations involving financial fraud
throughout the nation.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV