Rigrodsky & Long, P.A. Announces Investigation of Inhibitex, Inc.’s Agreement to be Acquired by Bristol-Myers Squibb Company
10 January 2012 - 1:50AM
Business Wire
Rigrodsky & Long, P.A. announces that it is investigating
potential claims against the board of directors of Inhibitex, Inc.
(“Inhibitex” or the “Company”) (Nasdaq: INHX) concerning possible
breaches of fiduciary duty and other violations of law related to
the Company’s entry into an agreement to be acquired by
Bristol-Myers Squibb Company (“Bristol-Myers”) in a transaction
with an approximate value of $2.5 billion.
Click here to learn more and to discuss your shareholder rights:
http://investigations.rigrodskylong.com/inhibitex-inc-inhx/.
Under the proposed agreement, Bristol-Myers Squibb will commence
a cash tender offer to purchase all of the outstanding shares of
Inhibitex’s common stock for $26.00 per share.
The investigation concerns whether Inhibitex’s board of
directors adequately shopped the Company to obtain the best price
possible for Inhibitex shareholders before entering into the
agreement with Bristol-Myers. Indeed, shareholders with beneficial
ownership of approximately 17% of Inhibitex’s common stock have
already entered into agreements with Bristol-Myers to support the
transaction and to tender their shares in the tender offer.
If you own the common stock of Inhibitex and purchased your
shares before January 7, 2012, if you have information or would
like to learn more about these claims, or if you wish to discuss
these matters or have any questions concerning this announcement or
your rights or interests with respect to these matters, please
contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case
Development Director, of Rigrodsky & Long, P.A., 919 N. Market
Street, Suite 980, Wilmington, Delaware 19801, by telephone at
(888) 969-4242, or by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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