INVESTOR ALERT: The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of Allergan, Inc. Buyout Proposal
SMITHTOWN, NY, April 23, 2014:
The Law Office of Jack Stuart Beige & Associates, P.C. announces that it is investigating the Board of Directors of Allergan, Inc. (“Allergan”) (NYSE: AGN) for possible breaches of fiduciary duties and other violations of law in connection with Allergan’s agreement to be acquired by Valeant Pharmaceuticals International, Inc. (“Valeant”), in a transaction valued at approximately $45 billion.
Under the terms of the agreement, public shareholders of Allergan would receive $48.30 in cash and 0.83 shares of Valeant common stock for each share of Allergan they own. Based on Valeant’s closing stock price on April 21, 2014, Allergan shareholders would have received consideration valued at approximately $152.88 per share.
The investigation concerns whether Allergan’s Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to Allergan’s stockholders would be fair and adequate, and whether Allergan is acting in its stockholders’ best interests.