The Briscoe Law Firm, PLLC And Cash Powers Taylor, LLP Announce The Investigation Of Possible Breaches Of Fiduciary Duties Concerning The Acquisition Of Trubion Pharmaceuticals, Inc.
The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of Trubion Pharmaceuticals, Inc. (“TRBN” or “Company”) (NASDAQ: TRBN) related to the proposed acquisition of TRBN by Emergent BioSolutions, Inc.
According to the agreement, which was announced on Thursday, August 12, 2010, each share of Trubion common stock will be converted into the right to receive an upfront payment of $1.365 per share in cash and 0.1641 shares of Emergent common stock. This transaction is valued at approximately $97 million. Additionally, Trubion shareholders will receive one Contingent Value Right ("CVR") per share, which will entitle the holder to receive cash payments based upon the achievement of certain milestones. The total potential aggregate value of the CVRs is $38.7 million over a 36-month period. The investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of TRBN for approving this transaction, whether the consideration to be received by TRBN shareholders is fair, and whether TRBN’s board of Directors acted in the shareholders’ best interests.
If you currently own shares of TRNB and would like additional information regarding this investigation, or if you have information regarding the allegations involving this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
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