Law Offices of Howard G. Smith LLP Continues Investigation of Pharmaceutical Product Development, Inc.
08 October 2011 - 5:02AM
Business Wire
Law Offices of Howard G. Smith is continuing its investigation
of potential claims against the Board of Directors of
Pharmaceutical Product Development, Inc. (“PPD” or the “Company”)
(NASDAQ:PPDI) related to the proposed acquisition of the Company to
an affiliate of The Carlyle Group and Hellman & Friedman. The
transaction is valued at approximately $3.9 billion or $33.25 per
share and is expected to close by the end of fourth quarter
2011.
The investigation concerns whether the Board of Directors of PPD
breached their fiduciary duties to stockholders by failing to
adequately shop the Company before agreeing to enter into the
proposed transaction, and whether the Company has disclosed all
material information to shareholders about the transaction. The
Company has seen substantial recent growth. Its share price
skyrocketed from $24.70 on August 8, 2011 to $32.28 on August 18,
2011. Further, at least one analyst has set a target price for the
Company’s stock at $38.00.
If you are a shareholder of PPD, 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 Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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