Anadys Shareholders Challenge $230M Sale To Roche

Law360, New York (November 14, 2011, 8:33 PM EST) -- Anadys Pharmaceuticals Inc. shareholders on Monday targeted the company’s leadership along with Swiss drug giant Roche Holdings Inc. in a proposed class action accusing the two drugmakers of undervaluing Anadys stock in its planned $230 million sale to Roche.

In a complaint filed in California federal court, shareholders said they would receive $3.70 per share of Anadys common stock under the terms of the deal announced Oct. 17, even though according to Yahoo Finance, at least one analyst had set a price target of $4 per...
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