The Law Office Of Vincent Wong Announces Investigation Of Possible Breach Of Fiduciary Duty By The Board Of Trubion Pharmaceuticals Inc. - TRBN
The Law Office of Vincent Wong is investigating the board of directors of Trubion Pharmaceuticals Inc. (NasdaqGM: TRBN) for possible breaches of fiduciary duty and other violations of state law regarding the sale of the company to Emergent BioSolutions Inc. (NYSE: EBS). Under the terms of the deal, each share of Trubion common stock will be converted into the right to receive $1.365 per share in cash and 0.1641 shares of Emergent stock. Based on Emergent's common stock price for the prior five days, the transaction values Trubion stock at $4.55 per share and the transaction at approximately $96.8 million. Trubion shareholders will also 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 three year period.
The investigation concerns whether the Trubion Board of Directors breached their fiduciary duties to Trubion stockholders by failing to adequately shop the Company before entering into this transaction and whether Emergent is underpaying for Trubion shares. At least one analyst set a price target for Trubion stock at $7.00 per share.
If you own common stock in Trubion and wish to obtain additional information about this investigation and what is being done to advance the shareholders’ interests, please contact Vincent Wong, Esq. directly, via email at email@example.com, by telephone at 212.584.2740, or visit http://www.wongesq.com/trubion.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights.
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