Faruqi & Faruqi, LLP Announces Investigation of Anadys Pharmaceuticals, Inc. (ANDS)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Anadys Pharmaceuticals, Inc. (“Anadys” or the “Company”) (NASDAQ: ANDS) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Roche Holding AG (VTX: ROG.VX) in an all-cash deal valued at about $230 million. Under the terms of the proposed transaction, Anadys stockholders will receive $3.70 in cash for each share of Anadys common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $4.00 for Anadys. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote.
Whether Anadys’ 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 the proposed transaction undervalues Anadys’ shares and by how much this proposed transaction undervalues the Company to the detriment of Anadys’ shareholders are the key focus of this investigation.
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Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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