MAP Pharma Investor Sues To Stop Allergan's $958M Buy

Law360, Wilmington (January 31, 2013, 6:46 PM EST) -- A MAP Pharmaceuticals Inc. shareholder launched a putative class action Thursday in Delaware challenging Allergan Inc.’s proposed $958 million purchase of the company, saying the deal stiffs investors just as MAPP’s marquee migraine drug is about to take off.

With the U.S. Food and Drug Administration poised to approve MAPP’s promising new drug, Levadex, the deal is a bargain for Irvine, Calif.-based Allergan, according to a complaint brought by Robert Corwin in Delaware Chancery Court.

“The proposed transaction will cash out MAPP shareholders for inadequate consideration...
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