MILWAUKEE, Oct. 9, 2014 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of Auxilium for possible breaches of fiduciary duty and other violations of state law in connection with the sale of Auxilium to Endo.
Click here to learn how to join the action: http://www.ademilaw.com/case/auxilium or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Auxilium's long-term financial outlook is very positive and yet shareholders will receive only $33.25 per share. Endo is well aware of Auxilium's' improving financial metrics and is purchasing Auxilium at a substantial discount. The merger agreement unreasonably limits prospective bids by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should Auxilium receive and accept a superior bid. Auxilium's insiders and their affiliates own significant stock, and will receive millions of dollars as part of change of control arrangements. These insiders can unduly influence a sale of Auxilium not necessarily in the best interests of non-insider shareholders. In light of these facts, our investigation centers on the conduct of Auxilium's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Auxilium given its current financial condition and prospects.
If you own shares of Auxilium and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/auxilium.
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