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If you purchased shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) and currently hold any of those NASDAQ:ARIA shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
February 6, 2017 (Shareholders Foundation) - An investor who currently holds shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA), filed a lawsuit in effort to halt the proposed takeover of Ariad Pharmaceuticals, Inc. by Takeda Pharmaceutical Company Limited for $24.00 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:ARIA stockholders by agreeing to sell Ariad Pharmaceuticals, Inc. too cheaply via an unfair process to W Takeda Pharmaceutical Company Limited.
On January 9, 2017, Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) announced it has entered into an agreement to be acquired by Takeda Pharmaceutical Company Limited (TSE: 4502) under which Takeda Pharmaceutical Company will acquire all of the outstanding shares in Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) for $24.00 per share in cash, or a total enterprise value of approximately $5.2 billion,
However, plaintiff claims that the proposed consideration NASDAQ:ARIA shareholders will receive is grossly inadequate and undervalues Ariad Pharmaceuticals, Inc. Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) reported that its annual Total Revenue increased from $105.41 million in 2014 to $118.80 million in 2015 and that its Net Loss grew from $162.60 million in 2014 to $231.16 million in 2015. In addition, the plaintiff alleges that the process is also unfair NASDAQ:ARIA stockholders.
On January 19, 2017, shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) closed at $23.70 per share.