October 13, 2014 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Durata Therapeutics Inc (NASDAQ:DRTX), was announced concerning whether the takeover of Durata Therapeutics Inc by Actavis plc for $23 per share is unfair to NASDAQ:DRTX stockholders.

The investigation by a law firm concerns whether certain officers and directors of Durata Therapeutics Inc breached their fiduciary duties owed to NASDAQ:DRTX investors in connection with the proposed acquisition.

On October 6, 2014, Actavis plc (NYSE: ACT) and Durata Therapeutics Inc (NASDAQ:DRTX) announced that they have entered into a merger agreement under which a subsidiary of Actavis will commence a tender offer to acquire all of the outstanding shares of Durata Therapeutics Inc (NASDAQ:DRTX) common stock for $23.00 per share in cash, or approximately $675 million in the aggregate, and contingent value rights (CVRs) entitling the holder to receive additional cash payments of up to $5.00 per share if certain regulatory or commercial milestones related to Durata's lead product DALVANCETM are achieved.

However, given that at least one analyst has set the high target price for NASDAQ:DRTX shares at $25.00 per share and that following the takeover news NASDAQ:DRTX shares rose in the open market to as high as $24.33 per share on October 6, 2014, the investigation concerns whether the offer is unfair to NASDAQ:DRTX stockholders. More specifically, the investigation concerns whether the Durata Therapeutics 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.

Shares of Durata Therapeutics Inc (NASDAQ:DRTX) grew from $6.89 per share in June 2013 to as high as $17.90 per share in July 2013.

On October 10, 2014, NASDAQ:DRTX shares closed at $23.56 per share.