Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Ardea Biosciences, Inc. (NASDAQ: RDEA) arising from its agreement for Ardea to be acquired by AstraZeneca for $23.00 per share. The transaction is expected to close during the second or third quarter of 2012, subject to customary conditions.
Weiss & Lurie is investigating whether Ardea’s Board acted in the best interests of Ardea shareholders in approving this deal and whether Ardea shareholders are receiving the highest price for their shares. Analysts have set the target price for Ardea stock over $32.00 with a high target set at $41.00 per share.
If you own Ardea shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Michael A. Rogovin either by telephone at (888) 593-4771 or email at firstname.lastname@example.org.
Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.Attorney Advertising. Past results do not guarantee a similar outcome.