Faruqi & Faruqi, LLP Announces Investigation of Micromet, Inc. (MITI)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Micromet, Inc. (“Micromet” or the “Company”) (NASDAQ: MITI) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Amgen Inc. (NASDAQ: AMGN) in an all-cash deal valued at about $1.16 billion. Under the terms of the proposed transaction, Micromet stockholders will receive $11 in cash per each share of Micromet they own.
Whether Micromet’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 Micromet’s shares and by how much this proposed transaction undervalues the Company to the detriment of Micromet’s shareholders are the key focus of this investigation.
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Faruqi & Faruqi, LLP
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