August 2, 2013 (Shareholders Foundation) - An investor, who currently holds shares of Trius Therapeutics, Inc. (NASDAQ:TSRX), filed a lawsuit in effort to halt the proposed takeover of Trius Therapeutics, Inc. by Cubist Pharmaceuticals, Inc.
The plaintiff alleges that the defendants breached their fiduciary duties by agreeing to sell the company at an unfair price via an unfair process.

On July 30, 2013, Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) and Trius Therapeutics, Inc. (NASDAQ: TSRX) announced that they have signed an agreement under which Cubist Pharmaceuticals will acquire all outstanding shares of Trius Therapeutics for $13.50 per share in cash or approximately $707 million on a fully diluted basis. In addition to the upfront cash payment, each Trius Therapeutics stockholder will receive one Contingent Value Right (CVR), entitling the holder to receive an additional cash payment of up to $2.00 for each share they own if certain commercial sales milestones are achieved.

However, the plaintiff claims that the offer is too low and undervalues the company. Indeed, at least one analyst has set the high target price for NASDAQ:TSRX shares at $20.00 per share. Furthermore, Trius Therapeutics’ performance improved lately. In fact, Trius Therapeutics, Inc. reported that its annual Total Revenue rose from $5.02 million in 2009 to $27.189 million in 2012. Shares of Trius Therapeutics, Inc. grew from $3.184 per share in November 2010 to $12.40 on July 23, 2013.

On August 2, 2013, NASDAQ:TSRX shares closed at $13.83 per share.