Law360, New York (July 27, 2009, 6:05 PM ET) -- A Medarex Inc. investor has sued Medarex, its board of directors and Bristol-Myers Squibb Co., alleging that Bristol-Myers’ plans to acquire the biologics company in a $2.1 billion deal are both procedurally and financially unfair to shareholders.
Kenneth Blumberg filed a putative shareholder class action Thursday in the U.S. District Court for the District of New Jersey, alleging that Medarex and Bristol-Myers induced Medarex’s board of directors to breach its fiduciary duties to shareholders when they agreed to sell the company without engaging in a competitive...
Medarex Investor Sues Over $2B Bristol-Myers Sale
To view the full article, take a free trial now.
