SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of DARA BioSciences, Inc. And Encourages Investors To Contact The Firm For Additional Information

STEVENSON, Md., June 11, 2015 /PRNewswire/ -- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of DARA BioSciences, Inc. ("DARA" or the "Company") (NasdaqCM: DARA) relating to the proposed buyout of the Company by Midatech Pharma PLC.

Under the terms of the transaction, DARA shareholders are anticipated to receive 0.272 Ordinary Shares of Midatech, subject to certain adjustments and one Contingent Value Right ("CVR").  All Midatech Ordinary Shares will be delivered to the holders of DARA common stock in the form of American Depositary Receipts ("ADRs").  Based on the current price of Midatech, each DARA share will be converted into ADRs with a value equivalent to approximately $1.20 per DARA share.  The transaction may undervalue DARA and may result in a substantial loss for many shareholders.  For example, according to Yahoo! Finance, at least one Wall Street analyst has issued a price target for DARA stock at $2.00 per share.

The firm's investigation seeks to determine, among other things, whether the Company's Board of Directors failed to satisfy their duties to shareholders, including whether the Board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company's shares of common stock.

If you currently own common stock of DARA and believe that the proposed buyout price is too low, or you would like to learn more about the investigation being conducted by Brower Piven, please visit our website at http://www.browerpiven.com/currentinvestigations.html.  You may also request more information by contacting Brower Piven either by email at [email protected] or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.

CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
[email protected]

SOURCE Brower Piven, A Professional Corporation