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If you purchased shares of Par Pharmaceutical Companies, Inc. (NYSE:PRX) prior to July 13, 2012, and currently hold any of those NYSE:PRX shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
July 16, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in Par Pharmaceutical Companies, Inc. (NYSE:PRX) shares was announced concerning whether the offer to acquire Par Pharmaceutical Companies, Inc. and the takeover process are unfair to investors in NYSE:PRX shares.
The investigation by a law firm concerns whether certain officers and directors of Par Pharmaceutical Companies, Inc. breached their fiduciary duties owed to NYSE:PRX investors in connection with the proposed acquisition.
On July 16, 2012, Par Pharmaceutical Companies, Inc. (NYSE: PRX) announced that it has entered into a merger agreement to be acquired by an affiliate of TPG in a transaction with an equity value of $1.9 billion. Under the terms of the agreement, Par Pharmaceutical Companies shareholders will receive $50.00 in cash for each share of Par common stock.
However, the investigation for NYSE:PRX investors concerns whether the proposed transaction is unfair to Par Pharmaceutical Companies stockholders. Specifically, the investigation focuses on whether the Par Pharmaceutical 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.
