NEW YORK, May 5, 2020 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Portola
Pharmaceuticals, Inc. ("PTLA" or the "Company") (NASDAQ: PTLA) in
connection with the proposed acquisition of the Company by Alexion
Pharmaceuticals, Inc. ("ALXN") (NASDAQ: ALXN). Under the
terms of the acquisition agreement, shareholders will receive
$18.00 for each share of PTLA they
own.
If you own PTLA shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://www.weisslawllp.com/portola-pharmaceuticals-inc/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether PTLA's board acted to maximize
shareholder value prior to entering into the acquisition
agreement. Notably, at least one analyst set a target price
of $31.00 per PTLA share, or
approximately $13.00 above the
per-share consideration. Additionally, ALXN hopes to leverage
the success of Andexxa, PTLA's marquee drug for the treatment
uncontrolled bleeding in people taking certain anticoagulants, to
improve its market positioning. According to the ALXN's CEO,
Andexxa "is well-aligned with [ALXN's] demonstrated expertise in
hematology, neurology and critical care." Finally, ALXN
anticipates the addition of Andexxa to its portfolio to be
accretive to shareholder value.
Given these facts, WeissLaw is concerned whether the proposed
acquisition undervalues the Company, and whether all material
information related to the proposed acquisition is fully and fairly
disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP