Investors who purchased shares of DUSA Pharmaceuticals, Inc. (NASDAQ:DUSA)
The investigation by a law firm concerns whether certain officers and directors of DUSA Pharmaceuticals, Inc. breached their fiduciary duties owed NASDAQ:DUSA investors in connection with the proposed acquisition.
On November 8, 2012, Sun Pharmaceutical Industries Limited and DUSA Pharmaceuticals, Inc. (NASDAQ GM: DUSA) announced that they have entered into an agreement under which Sun Pharmaceutical Industries Limited will acquire DUSA Pharmaceuticals, Inc. Under the terms of the proposed transaction, a 100% subsidiary of Sun Pharmaceutical Industries Ltd will commence a tender offer for all of the outstanding common stock of DUSA Pharmaceuticals, Inc. at a price of $8.00 per share in cash. The transaction has a total cash value of approximately $230 million.
However, at least one analyst has set the high target price of NASDAQ:DUSA shares at $9.50 per share. Furthermore, DUSA Pharmaceuticals’
Therefore the investigation a law firm concerns whether the proposed transaction is unfair to NASDAQ:DUSA stockholders. Specifically, the investigation focuses on whether the DUSA Pharmaceuticals Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in DUSA Pharmaceuticals, Inc. (NASDAQ:DUSA)