PROLOR Biotech, Inc. Merger Litigation (NYSE: PBTH)
Law Office of Brodsky & Smith, LLC Announces Investigation of PROLOR Biotech, Inc.
BALA CYNWYD, April 25, 2013/PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of PROLOR Biotech, Inc. (“PROLOR” or the “Company”) (NYSE- PBTH-News) relating to the proposed acquisition by OPKO Health, Inc. (“OPKO”).
Under the terms of the transaction, PROLOR shareholders will receive only 0.9951 shares of OPKO stock for each share of PROLOR stock they own. The transaction values PROLOR stock at approximately $7.025 per share. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of PROLOR for not acting in the Company’s shareholders' best interests in connection with the sale process. The transaction may undervalue the Company as an analyst has set a $12.00 per share price target on PROLOR stock. In addition, it has been reported that Deerpath Capital has indicated that the Company is worth more than $10.00 per share.
If you own shares of PROLOR stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com by calling toll free 877-LEGAL-90.
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