AVANIR PHARMACEUTICALS SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Avanir Pharmaceuticals, Inc. Over the Proposed Sale of the Company to Otsuka Pharmaceutical Co., Ltd. - AVNR
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 Avanir Pharmaceuticals, Inc. (“Avanir” or the “Company”) (Nasdaq: AVNR) for potential breaches of fiduciary duties in connection with the sale of the Company to Otsuka Pharmaceutical Co., Ltd for approximately $3.5 billion. The Company’s stockholders will only receive $17 for each share of Avanir common stock they own.
The investigation focuses on whether Avanir’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Avanir’s shareholders.
If you own common stock in Avanir and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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