BUYOUT OF OPTIMER - LAW FIRM SEEKS HIGHER PRICE FOR SHAREHOLDERS
Tripp Levy PLLC, a leading national securities and shareholder rights law firm is investigating the Board of Directors of Optimer Pharmaceuticals, Inc. (“Optimer” or the “Company”) (OPTR) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Cubist Pharmaceuticals, Inc.
Under the terms of the transaction, Optimer shareholders will receive $10.75 in cash for each share of Optimer stock they own. Optimer shareholders will also receive a Contingent Value Right entitling them to receive up to $5.00 for each share they own if certain net sales of the drug DIFICID are achieved. The investigation concerns whether the Optimer Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Cubist Pharmaceuticals, Inc. is underpaying for Optimer shares. In particular, at least one analyst set a price target of $25.00 per Optimer share.
If you own common stock in Optimer and wish to obtain additional information or discuss your rights, please contact us at 1-877-772-3975 or email at contact @ tripplevy
i contacted the law firm and they sent me the merger agreement and management put in a penalty fee of $18 million that another company must pay if it wants to make a higher price...then it says that management got millions in incentive compensation and other benefits...here is number of law firm in case anyone else wants to get a copy or join 1-877-772-3975
i agree this price is low. and what's worse is that mgmt. put in a penalty fee that says if another company wants to make a higher offer it has to pay a penalty of tens of millions....how is that fair?