NEW YORK, April 24, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of PROLOR Biotech, Inc. ("PROLOR" or the "Company") (NYSE: PBTH) (ISIN: US74344F1066) (CUSIP: 74344F106) concerning the proposed acquisition of PROLOR Biotech, Inc. by OPKO Health, Inc. in a transaction valued at approximately $480 million.
The investigation concerns whether the PROLOR directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, PROLOR shareholders will be entitled to receive 0.9951 shares of OPKO Health, Inc. common stock, or a price of $7.00 per share for each share of PROLOR common stock. However, at least one analyst has set a target price of $8.00 per share.
PROLOR shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the following companies: Arbitron Inc., Net1 Ueps Technologies, Inc., Universal Technical Institute, Inc., Telanetix, Inc., Somerset Hills Bancorp, BioClinica Inc., and Gardner Denver, Inc.The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, 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 75 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 defrauded investors. See www.pomerantzlaw.com. SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP