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Somaxon Pharmaceuticals, Inc. Message Board

  • sachshah25 sachshah25 Dec 12, 2012 7:39 AM Flag

    BUYOUT - UNFAIR PRICE - SHAREHOLDER LAWSUIT TO GET HIGHER PRICE

     

    NEW YORK--(BUSINESS WIRE)--

    Tripp Levy PLLC a leading national securities law firm is investigating the Board of Directors of Somaxon Pharmaceuticals, Inc. (“Somaxon” or the “Company”) (SOMX) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Pernix Therapeutics Holdings, Inc. (NYSE MKT: PTX).

    Under the terms of the transaction, Somaxon shareholders will receive an aggregate consideration equal to $25 million in Pernix common stock. The number of shares of Pernix stock issued will be based on the volume-weighted average price of Pernix’s common stock in the 30 day period prior to the merger’s closing, representing a value of between $6.00 and $9.00 per share. The investigation concerns whether the Somaxon Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this agreement with Pernix Therapeutics Holdings, Inc.

    If you own common stock in Somaxon and wish to obtain additional information, please contact us toll free at 877-772-3975

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