Trubion Investor Sues To Halt $135M Sale To Emergent

Law360, New York (October 6, 2010, 12:52 PM EDT) -- A Trubion Pharmaceuticals Inc. investor has filed a putative class action in an effort to block the $135.5 million sale of the company to Emergent BioSolutions Inc., claiming that the proposed deal shortchanges shareholders.

Walter Sloboda lodged a complaint Monday in the U.S. District Court for the Western District of Washington, accusing members of Trubion's board of directors of breaching their fiduciary duty to shareholders by agreeing to a transaction that fails to account for the biopharmaceutical maker's prospects for future growth.

The complaint alleges that...
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