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 Ambit Biosciences Corporation (“Ambit” or the “Company”) (Nasdaq: AMBI) relating to the proposed buyout of the Company by Daiichi Sankyo Company, Ltd. (“Daiichi Sankyo”).
On September 28, 2014, Daiichi Sankyo and Ambit jointly announced that they had entered into a definitive merger agreement under which Daiichi Sankyo will acquire all of the outstanding common stock of Ambit in a transaction valued at approximately $315 million.
Under the terms of the transaction, Ambit shareholders are anticipated to receive $15.00 in cash for each share of Ambit common stock 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 the transaction, and whether Daiichi Sankyo is underpaying for Ambit shares.
If you currently own common stock of Ambit 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.