SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation of Avanir Pharmaceuticals, Inc. in Connection with the Sale of the Company -AVNR
BALA CYNWYD, Pa., Dec. 2, 2014 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Avanir Pharmaceuticals, Inc. ("Avanir") or the ("Company") (Nasdaq –AVNR-News) relating to the proposed acquisition by Otsuka Pharmaceutical Co., Ltd. ("Otsuka").
Click here to learn more about the investigation http://brodsky-smith.com/861-avnr-avanir-pharmaceuticals-inc.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of transaction, Avanir shareholders will receive only $17.00 in cash for each share of Avanir stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Avanir for not acting in the Company's shareholders' best interests in connection with the sale process. The transaction may undervalue Avanir, which previously announced positive phase 2 results for its drug candidate AVP-923. The potential impact of AVP-923 could be significant as it is a potential new therapy for agitation and aggression in patients with Alzheimer's disease. Any drug that makes headway against Alzheimer's disease has mega-blockbuster potential as it has been estimated that 5.1 million Americans may have the disease. In addition, an analyst has set a $21.00 per share price target on Avanir stock.
If you own shares of Avanir common stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at [email protected], by visiting http://brodsky-smith.com/861-avnr-avanir-pharmaceuticals-inc.html or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-brodsky--smith-llc-announces-investigation-of-avanir-pharmaceuticals-inc-in-connection-with-the-sale-of-the-company--avnr-300003864.html
SOURCE Brodsky & Smith, LLC
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