San Diego, Jan. 07, 2012 (Shareholders Foundation) -- The announcement by Inhibitex, Inc. that it agreed to be acquired by Bristol-Myers Squibb for $26.00 per NASDAQ:INHX share prompted an investigation for investors in Inhibitex (INHX) shares concerning whether the offer to acquire Inhibitex and the buyout process are unfair to investors in NASDAQ: INHX shares and whether certain officers and directors breached their fiduciary duties.

The investigations by law firms concern whether Inhibitex Inc., certain officers and directors, and/or others breached their fiduciary duties owed Inhibitex (NASDAQ:INHX.) investors in connection with the proposed acquisition.

On January 7, 2012, Bristol-Myers Squibb Company (NYSE:BMY) and Inhibitex, Inc. (Nasdaq:INHX) announced that the companies have signed an agreement under which Bristol-Myers Squibb will acquire Inhibitex for $26.00 per share in cash pursuant to a cash tender offer and second step merger.

However the investigation for NASDAQ INHX investors concerns whether the Inhibitex Board of Directors undertook an adequate sales process and in particular breached their fiduciary duties to Inhibitex (INHX) shareholders by failing to adequately shop the Company before entering into this transaction.

Inhibitex, Inc.said that shareholders with beneficial ownership of approximately 17% of Inhibitexs common stock have already entered into agreements with Bristol-Myers Squibb to support the transaction and to tender their shares in the tender offer. In addition INHX shares grew last year at a significant grow rate. In fact shares of Inhibitex, Inc. (Public, NASDAQ:INHX) grew in 2011 from as low as $2.16 in January to as high as $15.51 in December 2011.

A potential securities class action lawsuit would seek to maximize the amount of money and information NASDAQ:INHX shareholders would receive in a buyout, so the law firm.