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Indevus Investors Sue To Halt Endo Merger

Law360 (January 14, 2009, 12:00 AM EST) -- Indevus Pharmaceuticals Inc. has been hit with two putative class actions by shareholders alleging the specialty drug company and its executives breached their fiduciary duties in connection with a merger proposal by Endo Pharmaceuticals Holdings Inc.

The lawsuits, filed separately in state courts in Massachusetts and Delaware, are seeking injunction orders to halt Endo's tender offer, which the shareholders claim contains an excessively high termination fee of $20 million that discourages other companies from making better offers.

The plaintiffs name Endo as a co-defendant for aiding...
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