DALLAS, Jan. 9, 2012 /PRNewswire/ -- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Inhibitex, Inc. ("Inhibitex" or "INHX") (NASDAQ: INHX) to Bristol-Myers Squibb Company. Under the proposed transaction, Inhibitex shareholders will receive $26.00 in cash for each share of Inhibitex/INHX stock owned.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.The definitive acquisition agreement involves an all cash transaction valued at approximately $2.5 billion. The investigation centers on whether Inhibitex shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Inhibitex's stock, and whether Inhibitex's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. According to shareholder rights attorney Willie Briscoe, "Although the acquisition price represents a premium over the closing price of Inhibitex shares the day prior to the buyout announcement, Inhibitex shares closed above $15.50 per share as recently as early December 2011. Based on these and other factors, we are investigating whether the transaction undervalues Inhibitex stock. Our lawsuit will seek to obtain the highest share price for all shareholders." The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights 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. SOURCE Powers Taylor, LLP