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 Durata Therapeutics, Inc. (NASDAQ: DRTX), (“Durata” or the “Company”) relating to the proposed buyout of the Company by Actavis plc (“Actavis”).
On October 6, 2014, Durata and Actavis announced that they have entered into a definitive merger agreement pursuant to which Actavis will acquire Durata in a transaction valued at approximately $675 million. Under the terms of the transaction, Durata shareholders are anticipated to receive $23.00 in cash for each share of Durata stock they own, as well as contingent value rights (“CVRs”) entitling the holder to receive additional cash payments of up to $5.00 per share in the event certain developmental and/or commercial milestones are met.
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 Actavis is underpaying for Durata shares.
If you currently own common stock of Durata 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 email@example.com 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.