BALA CYNWYD, Pa.--(BUSINESS WIRE)--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Ambit Biosciences Corporation (“Ambit” or the “Company”) (Nasdaq: AMBI) relating to the proposed acquisition by Daiichi Sankyo Company, Ltd.
Click here to learn more about the investigation http://brodsky-smith.com/830-ambi-ambit-biosciences-corporation.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Ambit shareholders will receive only $15.00 in cash for each share of Ambit common stock they own. In addition, stockholders of Ambit will receive one Contingent Value Right (CVR) which will entitled the holder to receive an additional cash payment of up to $4.50 per share if certain milestones are reached. However, there is no guarantee that these milestones will ever be reached.
The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Ambit for not acting in the Company’s shareholders best interests in connection with the sale process. The transaction may undervalue the Ambit as the Company’s drug candidate quizartinib is in late-stage trials for the treatment of acute myeloid leukemia, which made up 36% of all new leukemia cases in 2014. The transaction may also result in a loss for many long-term Ambit shareholders as Ambit stock traded at $18.29 on October 21, 2013 and an analyst has set a $17.00 per share price target for Ambit stock.
If you own shares of Ambit common stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org,by visiting http://brodsky-smith.com/830-ambi-ambit-biosciences-corporation.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.