Idenix Pharmaceuticals, Inc. Merger Litigation (Nasdaq: IDIX)
SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation of Idenix Pharmaceuticals, Inc. in Connection With The Sale of The Company. - IDIX
BALA CYNWYD, June 13, 2014 /PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Idenix Pharmaceuticals, Inc. (“Idenix” or the “Company”) (Nasdaq –IDIX-News) relating to the proposed acquisition by Merck & Co., Inc. (“Merck”).
Under the terms of the transaction, Idenix shareholders will receive only $24.50 in cash for each share of Idenix stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Idenix for not acting in the Company’s shareholders' best interests in connection with the sale process.
Further, the investigation seeks to determine if the transaction undervalues Idenix given that is has been reported that Merck may need Idenix’s drug Samatasvir and two of the Company’s clinical-stage drugs to combine with its own oral hepatitis C compounds. In addition, Idenix claims that Gilead is infringing on one of its key patents which, if successful, could lead to a large upfront payment or even a steady royalty payment.
If you own shares of Idenix common 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 firstname.lastname@example.org, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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