SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Salix Pharmaceuticals, Ltd. In Connection With The Proposed Sale Of The Company
STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the board of directors of Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP) relating to the proposed buyout of the Company.
On July 8, 2014, Salix Pharmaceuticals, Ltd. (“Salix”) and Cosmo Pharmaceuticals S.p.A. (“Cosmo”) announced that they had entered into a definitive merger agreement pursuant to which Salix will combine with Cosmo Technologies Limited (“Cosmo Tech”), a subsidiary of Cosmo. Under the terms of the agreement, Salix will become a wholly-owned subsidiary of Cosmo Tech, which will change its name to Salix Pharmaceuticals, plc.
Under the terms of the transaction, Salix shareholders will receive one share of the post-merger entity for each share of Salix they own. The firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Cosmo is underpaying for Salix shares.
If you currently own common stock of Salix and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.