Kendall Law Group, led by former federal judge Joe Kendall, is investigating King Pharmaceuticals, Inc. (NYSE: KG) for shareholders in connection with the proposed acquisition by Pfizer. The national securities firm’s investigation seeks to determine whether King Pharmaceuticals and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a King Pharmaceuticals shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at firstname.lastname@example.org.
On October 12, 2010, the companies announced the definitive merger agreement under which King Pharmaceuticals would be acquired by Pfizer in a transaction valued at approximately $3.6 billion. Under the terms of the agreement, King Pharmaceuticals stockholders will receive $14.25 in cash for each share of King Pharmaceuticals/KG common stock held. According to Thompson/First Call, at least one analyst has set a price target of $15.00 per share for King Pharmaceuticals stock. Additionally, King Pharmaceuticals stock was trading for over $13.00 earlier this year. Due to these factors, the firm believes the transaction significantly undervalues the company.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.