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Cubist Pharmaceuticals Inc (NASDAQ:CBST) Investor Files Lawsuit In Effort To Halt The Proposed Acquisition

  • If you purchased shares of Cubist Pharmaceuticals Inc (NASDAQ:CBST) and currently hold any of those NASDAQ:CBST shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • 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

Company
Cubist Pharmaceuticals Inc
Security
NASDAQ: CBST

Case Name
Cubist Pharmaceuticals Deal Case 12/17/2014
Type of Lawsuit
Mergers and Acquisition
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Summary

December 19, 2014 (Shareholders Foundation) - An investor, who currently holds shares of Cubist Pharmaceuticals Inc (NASDAQ:CBST), filed a lawsuit in effort to halt the proposed takeover of Cubist Pharmaceuticals Inc by Merck for $102 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:CBST stockholders by agreeing to sell Cubist Pharmaceuticals Inc too cheaply via an unfair process to Merck

On December 8, 2014, Merck (NYSE:MRK), known as MSD outside the United States and Canada, and Cubist Pharmaceuticals, Inc. (NASDAQ:CBST) announced that the companies have entered into an agreement under which Merck will acquire Cubist for $102 per share in cash.

However, the plaintiff claims that the offer is too low and undervalues Cubist Pharmaceuticals Inc. Cubist Pharmaceuticals’ performance improved latetly. In fact, Cubist Pharmaceuticals Inc reported that its annual Total Revenue rose from $636.46 million in 2010 to over $1.05 billion in 2013. Shares of Cubist Pharmaceuticals Inc (NASDAQ:CBST) grew from under $20 in early 2010 to as high as $79.59 per share in February 2014.