SAN DIEGO, Aug. 5, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that an investor who currently holds Optimer Pharmaceuticals, Inc. (OPTR) shares filed a lawsuit to halt the proposed takeover of Optimer Pharmaceuticals, Inc. by Cubist Pharmaceuticals, Inc.
Investors who purchased shares of Optimer Pharmaceuticals, Inc. (OPTR) prior to July 30, 2013 and currently hold any of those shares, have certain options and should contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
On July 30, 2013, Cubist Pharmaceuticals, Inc. and Optimer Pharmaceuticals, Inc. announced that they have signed a merger agreement under which Cubist Pharmaceuticals, Inc will acquire all of the outstanding shares of Optimer Pharmaceuticals, Inc common stock for $10.75 per share in cash, or approximately $535 million on a fully diluted basis. In addition to the upfront cash payment, each stockholder of Optimer Pharmaceuticals, Inc will receive a Contingent Value Right (CVR), which is expected to be publicly traded, entitling the holder to receive an additional one-time cash payment of up to $5.00 for each share they own if certain net sales of DIFICID® (fidaxomicin) are achieved, or a total transaction value of up to $801 million on a fully diluted basis.
However, the plaintiff alleges that the defendants breached their fiduciary duties by agreeing to sell the company at an unfair price via an unfair process. The plaintiff claims that the offer is too low and undervalues the company. Indeed, OPTR shares traded as high as $16.35 per share on May 16, 2013 and at least one analyst set a price target of $25.00 per OPTR share.
Those who currently are investors in Optimer Pharmaceuticals, Inc. (OPTR) shares and purchased any of those Optimer Pharmaceuticals shares prior to the announcement have certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.