Levi & Korsinsky is investigating the Board of Directors of Inhibitex, Inc. (“Inhibitex” or the “Company”) (Nasdaq: INHX) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Bristol-Myers Squibb Co. (NYSE: BMY). Under the terms of the transaction, Inhibitex shareholders will receive $26 per share of Inhibitex stock they own. The transaction has a total approximate value of $2.5 billion. Shareholders with beneficial ownership of approximately 17% of Inhibitex common stock have already entered into agreements with Bristol-Myers to support the transaction and to tender their shares in the tender offer.
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The investigation concerns whether the Inhibitex Board of Directors breached their fiduciary duties to Inhibitex stockholders by failing to adequately shop the Company before entering into this transaction and whether Bristol-Myers Squibb Co. is underpaying for Inhibitex shares, thus unlawfully harming Inhibitex stockholders.
If you own common stock in Inhibitex and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://www.zlk.com.Levi & Korsinsky has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.