August 31, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Medivation Inc (NASDAQ:MDVN), was announced concerning whether the takeover of Medivation Inc by Pfizer Inc. for $81.50 per share is unfair to NASDAQ:MDVN stockholders.

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

August 22, 2016, Pfizer Inc. (NYSE:PFE) and Medivation, Inc. (NASDAQ:MDVN) announced that they have entered into a merger agreement under which Pfizer will acquire Medivation for $81.50 a share in cash for a total enterprise value of approximately $14 billion.

However, given that at least one analyst set the high target price for NASDAQ:MDVN at $82.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:MDVN stockholders. More specifically, the investigation concerns whether the Medivation 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.

Medivation Inc reported that its annual total Revenue rose from $272.94 million in 2013 to $943.26 million in 2015 and that its Net Loss of $42.61 million in 2013 turned into a Net Income of $244.72 million in 2015.