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Bernstein Liebhard LLP is investigating whether the Board of Directors of ISTA Pharmaceuticals, Inc. (“ISTA” or the “Company”) (Nasdaq: ISTA) is breaching its fiduciary duty to its shareholders in failing to embrace premium offers for the company by Valeant Pharmaceuticals International, Inc. (“Valeant Pharmaceuticals”).
As reported, ISTA shareholders would receive $6.50 in cash for each share they own. The investigation is focused on ISTA’s failing to embrace Valeant Pharmaceuticals’ offers.