Pomerantz Haudek Grossman & Gross LLP is investigating claims on behalf of investors of Inhibitex, Inc. (“Inhibitex” or the “Company”) (NASDAQ:INHX) concerning the proposed acquisition of Inhibitex by Bristol-Myers Squibb Company (“Bristol-Myers”) in a cash transaction valued at approximately $2.5 billion.
The investigation concerns whether the Inhibitex directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Through the acquisition, Bristol-Meyer stands to gain a very lucrative position in the Hepatitis C drug industry at a time when it is losing patent protection on three of its four top selling drugs. Under the terms of the agreement shareholders would receive $26.00 per share - at least one analyst has set a target price of $34.00 per share.
Inhibitex shareholders seeking more information about this acquisition are advised to contact Gustavo Bruckner, Esq. at email@example.com or 212-661-1100 or toll free at 888-476-6529, ext. 302. Shareholders may also contact Rachelle R. Boyle at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.