SHAREHOLDER ALERT: Brower Piven Announces Class Action Lawsuit in Connection With the Sale of Durata Therapeutics, Inc. -- DRTX


STEVENSON, Md., Oct. 29, 2014 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the Illinois Circuit Court on behalf of all common stockholders of Durata Therapeutics, Inc. ("Durata" or the "Company") (Nasdaq:DRTX) opposing the proposed acquisition of Durata by Actavis plc ("Actavis").

The complaint arises out of the October 6, 2014 announcement that Durata had entered into a definitive merger agreement with Actavis, pursuant to which Actavis will acquire Durata in a transaction valued at approximately $675 million. Under the terms of the transaction, Durata shareholders are anticipated to receive $23.00 in cash for each share of Durata stock they own, as well as contingent value rights ("CVRs") entitling the holder to receive additional cash payments of up to $5.00 per share in the event certain developmental and/or commercial milestones are met.

The complaint seeks relief on behalf of the named plaintiff and all other similarly situated shareholders of Durata and asserts whether the Company's Board of Directors breached their fiduciary duties by failing to maximize shareholder value and/or protect the interests of Durata shareholders.

If you currently own common stock of Durata and would like to learn more about this lawsuit and your ability to participate as a plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.



            

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