Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Par Pharmaceutical Companies, Inc. ("PRX") to an affiliate of TPG for shareholders. Under the proposed transaction, PRX shareholders will only receive $50.00 in cash for each share of PRX stock owned.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
Under the terms of the definitive merger agreement, TPG will acquire all outstanding shares of PRX in a transaction valued at approximately $1.9 billion. The deal is expected to close in 2012.
The investigation centers on whether PRX shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues PRX stock, and whether PRX's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. "Due to the lack of a significant premium to the shareholders and other factors, we believe that the transaction may undervalue PRX stock. Our lawsuit will seek to obtain the highest share price for all shareholders," said shareholder rights attorney Willie Briscoe.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
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