SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) breached their fiduciary duties in connection with the planned merger of the Company with Otsuka Pharmaceutical Co., Ltd. Avanir is engaged in acquiring, developing, and commercializing novel therapeutic products for the treatment of central nervous system disorders.
On December 2, 2014, Avanir and Otsuka announced that they had entered into a definitive merger agreement. Under the terms of the agreement, stockholders of Avanir will receive $17.00 per share in cash. The transaction values Avanir at approximately $3.5 billion.
The investigation concerns whether Avanir’s board failed to satisfy their duties to the Company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock. Nationally recognized Johnson & Weaver, which focuses its practice on shareholder rights, is investigating whether the proposed deal price represents adequate consideration, especially given the Avanir’s recent success and promise of future growth. Moreover, one Wall Street analyst has a $21.00 price target on the stock which is far more than the $17.00 offer price.
If you are an Avanir shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) by email or by phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.