SAN DIEGO, Sept. 2, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that an investor, who currently holds shares of InterMune Inc (ITMN), filed a lawsuit in effort to stop the proposed takeover of InterMune Inc by Roche for $74.00 per share.
Investors, who purchased shares of InterMune Inc (ITMN) prior to August 24, 2014 and currently hold any of those ITMN shares, have certain options and should contact the Shareholders Foundation, Inc. at firstname.lastname@example.org or call +1 (858) 779-1554.
On August 24, 2014, Roche and InterMune, Inc. announced they have entered into a merger agreement for Roche to fully acquire InterMune at a price of $74.00 per share in an all-cash transaction.
However, the plaintiff claims the offered price is unfair and grossly inadequate because it does not reflect the intrinsic value of InterMune's common stock. The plaintiff says that if the proposed transaction closes, ITMN shareholders will be denied the growth opportunity InterMune has been touting. In addition, the plaintiff alleges that the defendants have also exacerbated their alleged breaches of fiduciary duty by agreeing to lock up the proposed transaction with preclusive deal protection devices, such as a no solicitation, a matching rights, and a $266 million termination fee provision, that preclude other bidders from making successful competing offers for InterMune Inc.
Those who currently are investors in InterMune Inc (ITMN) shares and purchased any of those ITMN shares prior to the announcement have certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT: Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554 email@example.com 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
Source:Shareholders Foundation, Inc.