|[September 06, 2013]
M & A Attorneys At Rigrodsky & Long, P.A. Announce Investigation Of Possible Inadequately Priced Astex Pharmaceuticals, Inc. Buyout
WILMINGTON, Del. --(Business Wire)--
& Long, P.A. announces that it is investigating potential legal
claims against the board of directors of Astex Pharmaceuticals, Inc.
("Astex" or the "Company") (NASDAQ GS: ASTX)
regarding possible breaches of fiduciary duties and other violations of
law related to the Company's entry into an agreement to be acquired by
Otsuka Pharmaceutical Co., Ltd. ("Otsuka") in a transaction valued at
approximately $886 million.
Click here to learn more: http://www.rigrodskylong.com/investigations/astex-pharaceuticals-inc-astx.
The investigation concerns whether Astex's board of directors failed to
adequately shop the Company and obtain the best possible value for
Astex's shareholders before entering into an agreement with Otsuka.
Market professionals have reacted very negatively to the deal. For
example, a September 5, 2013 Bloomberg (News - Alert) article titled "Otsuka Bid for
Astex Seen Undervaluing Cancer-Drug Maker" quoted an analyst with Brean
Capital LLC as saying that "Astex should settle for nothing less than
$13 a share." That same article quoted an Astex shareholder as stating
that "[t]his will go down as the biggest rip-off of investors in biotech
If you own the common stock of Astex and purchased your shares before
September 5, 2013, if you have information or would like to learn more
about these claims, or if you wish to discuss these matters or have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Seth Rigrodsky or Peter Allocco
at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden
City, New York 11530, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org,
or at: http://www.rigrodskylong.com/investigations/astex-pharmaceuticals-inc-astx.
& Long, P.A., with offices in Wilmington, Delaware and Garden
City, New York, regularly prosecutes securities
class, derivative and direct actions, shareholder rights litigation and
corporate governance litigation, on behalf of shareholders in states
and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
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