NEW YORK, Feb. 2, 2009 (GLOBE NEWSWIRE) -- Levi & Korsinsky ("L&K") is investigating breaches of fiduciary duty and other violations of state law by the board of directors of Therapeutics, Inc. ("CV Therapeutics" or the "Company") (CVTX) arising out of their failure to properly consider an offer that Astellas has made to purchase the Company for $16 per share. The Astellas $16 per share offer represented a 41% premium to CV Therapeutics closing price of $11.65 of January 27, 2009 and a 69% premium to the Company's 60-day average closing price. Furthermore, the Company's Board extended the expiration date of its shareholder rights plan from Feb. 1, 2009 to Feb. 1, 2010 that effectively prevents Astellas from making a tender offer directly to CV Therapeutics shareholders.
If you own common stock in CV Therapeutics and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/cvtx.html
L&K has experience in prosecuting investor securities litigation and an extensive practice in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.