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MAP Pharmaceuticals Inc. (NASDAQ:MAPP) Investor Files Lawsuit Against Takeover By Allergan, Inc

  • If you purchased shares of MAP Pharmaceuticals Inc. (NASDAQ:MAPP) prior to January 22, 2013, and currently hold any of those NASDAQ:MAPP 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
MAP Pharmaceuticals Inc.
Security
NASDAQ: MAPP

Case Name
MAP Pharmaceuticals Deal Case 02/01/2013
Type of Lawsuit
Mergers and Acquisition
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Summary

Feb. 04, 2013 (Shareholders Foundation) -- An investor in shares of MAP Pharmaceuticals Inc. (NASDAQ:MAPP) filed a lawsuit in effort to stop the proposed takeover of MAP Pharmaceuticals Inc by Allergan, Inc for $25.00 per NASDAQ:MAPP share.
The plaintiff alleges that the defendants breached their fiduciary duties owed NASDAQ:MAPP stockholders by agreeing to sell the company too cheaply via an unfair process.

On Jan. 22, 2013, Allergan, Inc. (NYSE:AGN) and MAP Pharmaceuticals Inc. (NASDAQ:MAPP) announced that they have entered into a merger agreement whereby Allergan will acquire 100% of the shares of MAP Pharmaceuticals for a price of $25.00 per share.

However, the plaintiff says that the $25-offer is too low and undervalues the company. The plaintiff further claims that also the proposed transaction is unfair to NASDAQ:MAPP stockholders.