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...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Christensen v. Papadopoulos et al


Case Number

3:11-cv-02636

Court

California Southern

Nature of Suit

Securities/Commodities

Judge

Michael M. Anello

Date Filed

November 10, 2011

Law Firms

Companies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.