November 30, 2015 (Shareholders Foundation) - An investor who currently holds shares of Dyax Corp. (NASDAQ:DYAX), filed a lawsuit in effort to halt the proposed takeover of Dyax Corp. by Shire plc for $37.30 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:DYAX stockholders by agreeing to sell Dyax Corp too cheaply via an unfair process to Shire plc.

On November 2, 2015, Shire plc and Dyax Corp. (NASDAQ:DYAX) announced that Shire will acquire Dyax Corp. for $37.30 in cash per NASDAQ:DYAX share, for aggregate upfront consideration of approximately $5.9 billion.

Dyax shareholders may receive additional value through a non-tradable contingent value right (CVR) that will pay $4.00 in cash per Dyax share upon approval of DX-2930 in HAE, representing a potential additional$646 million in aggregate contingent consideration.

However, the plaintiff claims that the proposed consideration NASDAQ:DYAX shareholders will receive is grossly inadequate and undervalues Dyax Corp. Dyax Corp. (NASDAQ:DYAX) reported that its annual Total Revenue rose from $48.74 million in 2011 to $81.72 million in 2014 and that its Net Loss of $34.60 million in 2011 declined to $11.88 million in 2014. In addition, the plaintiff alleges that the process is also unfair to NASDAQ:DYAX stockholders