Stull, Stull & Brody Announces Investigation on Behalf of Shareholders of OSI Pharmaceuticals, Inc.
02 March 2010 - 6:40AM
Business Wire
Attorney Advertising. Notice is hereby given that Stull, Stull
& Brody has commenced an investigation on behalf of
shareholders of OSI Pharmaceuticals, Inc. (“OSI” or the “Company”)
(Nasdaq: OSIP) for possible breaches of fiduciary duty and other
violations of state law by the Company’s Board of Directors (the
“Board”) in connection with attempt by Astellas Pharma, Inc.
(“Astellas”) to acquire all of OSI’s outstanding shares for $52 in
cash per share.
The current investigation concerns the price to be paid by
Astellas to OSI shareholders and the process by which the Board is
addressing the transaction. The OSI Board has stated that it will
review the offer. The OSI Board previously rejected a takeover
proposal from Astellas for $52 per share, stating that the proposal
significantly undervalues OSI.
If you own the common stock of OSI and wish to obtain additional
information about this matter, please contact Aaron Brody, Esq. at
Stull, Stull & Brody by calling 1-800-337-4983 or
1-212-687-7230, or by email to ssbny@aol.com or by writing to
Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017.
Stull, Stull & Brody has litigated many class actions for
violations of securities laws and breaches of fiduciary duty on
behalf of defrauded investors over the past 40 years and has
obtained court approval of substantial settlements on numerous
occasions. Stull, Stull & Brody has offices in New York and Los
Angeles. Additional information about Stull, Stull & Brody can
be found at the firm’s website at www.ssbny.com.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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