BUYOUT OF DUSA - LAW FIRM SEEKS MORE MONEY FOR SHAREHOLDERS
November 8, 2012
New York, New York -- Tripp Levy PLLC, a leading national securities law firm, has commenced an investigation on behalf of shareholders of Dusa Pharmaceuticals. It was announced that Sun Pharmaceutical Industries will acquire Dusa. Under the terms of the agreement, Sun Pharmaceutical Industries will commence a tender offer for all of the outstanding common stock of DUSA at a price of $8.00 per share in cash.
The investigation concerns whether the board of directors of Dusa breached their fiduciary duties to shareholders by not obtaining a higher price through a full and fair auction process while not obtaining personal benefits for themselves to sell the company at this price. Indeed, analysts have projected that the true take out value of the company is worth at least $9.50 per share.
If you are a shareholder of Dusa and would like additional information, please contact us toll free at 877-772-3975 or email at contact @ tripplevy
Tripp Levy PLLC is a leading national law firm that has recovered millions for shareholders around the globe.
I just contacted the law firm and they sent me a copy of the merger agreement. In it is a provision that says that if another company wants to make a higher offer it must first pay a penalty of around $10 million. This is outrageous. The management is only doing this so they get their sweetheart deal of their new employment agreements where they get millions for selling the company. Count me in this lawsuit!