DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating potential claims against the Board of Directors of Forest Laboratories, Inc. (“Forest Laboratories”) (NYSE: FRX) related to the sale of FRX to Actavis PLC in an acquisition valued at approximately $25 billion. Under the terms of the definitive buyout agreement, Forest Laboratories shareholders will receive just $26.04 in cash and 0.3306 Actavis shares for each share of FRX owned. Based on the trading price of Actavis shares the day prior to the buyout announcement, the value to Forest Laboratories shareholders is only $89.48 per share of FRX, which is well below at least one analyst’s value of $91.00 per share.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
The Forest Laboratories’ investigation centers on whether Forest Laboratories’ Board of Directors is acting in the shareholders’ best interests, whether the board is properly considering the proposed price for the shareholders, and whether the board has employed an adequate process to review and act on the proposed transaction. Notably, at least one analyst with Yahoo! Finance estimates that FRX shares could be worth as high as $91.00 per share.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.