EQUITY ALERT: The Rosen Law Firm Announces Investigation Of Avanir Pharmaceuticals Concerning Its Proposed Sale To Otsuka Pharmaceutical - AVNR

The Rosen Law Firm announces that it is investigating the Board of Directors of Avanir Pharmaceuticals, Inc. (NASDAQ:AVNR) for possible breaches of fiduciary duty and other violations of law by failing to adequately shop Avanir to maximize shareholder value before agreeing to be acquired by Otsuka Pharmaceutical Co., Ltd.

If you would like to join the action, go to http://rosenlegal.com/cases-451.html or contact Phillip Kim or Kevin Chan, toll-free at 866-767-3653, or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com. There is no cost or obligation to you.

Under the terms of the proposed transaction, shareholders will receive $17.00 in cash for each share of Avanir they own. The proposed transaction is valued at approximately $3.5 billion. The investigation relates to whether the proposal is fair to the public shareholders of Avanir and whether Avanir's Board breached its fiduciary duties in connection with the proposed sale.

If you currently own shares of Avanir and wish to obtain additional information, please visit the website at http://rosenlegal.com/cases-451.html. You may also contact Phillip Kim or Kevin Chan of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Copyright Business Wire 2010

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