The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of Cephalon, ...
05 May 2011 - 5:26AM
Business Wire
The Law Offices of Vincent Wong are investigating the Board of
Directors of Cephalon, Inc. (Nasdaq: CEPH) for possible breaches of
fiduciary duty and other violations of state law in connection with
the sale of the Company to Teva Pharmaceutical Industries Ltd.
(Nasdaq: TEVA). Under the terms of the proposed deal, Cephalon
shareholders will receive $81.50 per share in cash for a total
enterprise value of approximately $6.8 billion.
The investigation concerns whether the Cephalon Board of
Directors breached their fiduciary duties to Cephalon stockholders
by failing to adequately shop the Company before entering into this
transaction and whether Teva Pharmaceutical Industries Ltd. is
underpaying for Cephalon shares. According to Thomson/First Call,
at least one analyst placed a price target for Cephalon stock at
$92 per share.
If you own common stock in Cephalon and wish to obtain
additional information, please contact Vincent Wong, Esq. either
via email vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/cephalon.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights. Attorney advertising.
Prior results do not guarantee similar outcomes.
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