NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky is investigating the Board of Directors of Avanir Pharmaceuticals, Inc. (“Avanir” or “the Company”) (NasdaqGS: AVNR) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Otsuka Pharmaceutical Co., Ltd.
Click here to learn more about the investigation: http://zlk.9nl.com/avanirpharmaceuticals-avnr.
Under the terms of the transaction, Avanir shareholders will receive a $17.00 for each share of Avanir stock they own. The investigation concerns whether the Board of Avanir breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Otsuka Pharmaceutical Co., Ltd. is underpaying for Avanir shares. In particular, at least one analyst set a price target of $21.00 per Avanir share.
If you own Avanir common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/avanirpharmaceuticals-avnr.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510