Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of Optimer Pharmaceuticals, Inc. Over the Proposed Sale of the Company to Cubist Pharmaceuticals, Inc.
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Optimer Pharmaceuticals (“Optimer” or the “Company”) (NASDAQ GS: OPTR) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Cubist Pharmaceuticals, Inc. (NASDAQ GS: CBST) in a deal valued at approximately $801 million. Under the terms of the proposed transaction, Optimer’s stockholders will receive $10.75 in cash for each share of Optimer common stock they own. Optimer shareholders would also receive one Contingent Value Right for each Optimer share they own, which could yield additional cash consideration of up to $5.00 per share. According to Yahoo! Finance, at least one financial analyst has set a price target of $25.00 per share for Optimer.
The investigation focuses on whether Optimer’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Optimer’s shareholders.
If you own common stock in Optimer and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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