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Pharmasset, Inc. (VRUS)

NASDAQ: VRUS

Summary

Faruqi & Faruqi, LLP Announces Investigation of Pharmasset, Inc. (VRUS)

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Pharmasset, Inc. (“Pharmasset” or the “Company”) (NASDAQ: VRUS) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Gilead Sciences, Inc. (NASDAQ: GILD) in an all-cash deal valued at about $11 billion. Under the terms of the proposed transaction, Pharmasset stockholders will receive $137 in cash for each share of Pharmasset common stock they own. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote.

Whether Pharmasset’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 the proposed transaction undervalues Pharmasset’s shares and by how much this proposed transaction undervalues the Company to the detriment of Pharmasset’s shareholders are the key focus of this investigation.

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  • Company:
    Pharmasset, Inc. (VRUS)
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Contact Counsel

Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

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