First solicitation of shareholder lawsuit re Merck/Cubicin deal
These guys always pop up when they sense fire, however small
I think the deal goes thru, but then again, who knows -- that Times and WSJ have piped in somewhat pessimistically, will be interesting to see how it plays out
www.mmm-online.com/headliner-leading-the-fight-against-infection/article/335000/
Cubist Pharmaceuticals, Inc.
Acquisition of Cubist Pharmaceuticals, Inc. (CBST) by Merck & Co., Inc. (MRK) May Not Be in Shareholders’ Best Interests
Robbins Arroyo LLP is investigating the proposed acquisition of Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) by Merck & Co., Inc. (NYSE: MRK). On December 8, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which Merck will acquire Cubist Pharmaceuticals. Under the terms of the agreement, Cubist Pharmaceuticals shareholders will receive $102 for each share of Cubist Pharmaceuticals common stock.
Is the Proposed Acquisition Best for Cubist Pharmaceuticals and Its Shareholders?
Robbins Arroyo LLP’s investigation focuses on whether the board of directors at Cubist Pharmaceuticals is undertaking a fair process to obtain maximum value and adequately compensate its shareholders.
On October 21, 2014, Cubist Pharmaceuticals released its earnings results for its third quarter 2014, reporting strong quarterly earnings. Total net revenues for the third quarter fiscal 2014 were $309.2 million, up 16% compared to $266 million for the comparable quarter in fiscal 2013. Additionally, international product revenues were $16.6 million compared to $13.0 million in third quarter 2013. In commenting on these results, Cubist Pharmaceuticals Chief Executive Officer Mike Bonney remarked, “This was a strong quarter for Cubist in which we made significant progress against our 2014 financial and business objectives, driven by CUBICIN and meaningful contributions across our portfolio.… Third quarter results reflect important momentum across our portfolio and complement our continued launch preparation leading up to the December FDA action date of our potential blockbuster ceftolozane/tazobactam, now known as ZERBAXA.”
In light of these facts, Robbins Arroyo LLP is examining Cubist Pharmaceuticals’ board of directors’ decision to sell the company now rather than allow shareholders to continue to participate in the company’s continued success and future growth prospects.
Cubist Pharmaceuticals shareholders have the option to file a class action lawsuit to ensure the board of directors obtains the best possible price for shareholders and the disclosure of material information. Cubist Pharmaceuticals shareholders interested in information about their rights and potential remedies can contact attorney Darnell R. Donahue at 800-350-6003, or you can complete the form below and we will contact you directly.
