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Indevus, Endo Face Another Class Action Over Merger

Law360 (February 3, 2009, 12:00 AM EST) -- Indevus Pharmaceuticals Inc. is facing another proposed shareholder class action seeking to block a merger with Endo Pharmaceuticals Holdings Inc., claiming Endo's $4.50 a share offer undervalues the specialty drug company.

Shareholder Stefen Hell filed the suit Friday in the Delaware Court of Chancery against Indevus, its directors, Endo and BTB Purchaser Inc., the Endo subsidiary that made the tender officer, Indevus said in a regulatory filing.

The latest complaint is at least the fifth shareholder class action filed against Indevus since the companies announced the...
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