Innovation Pharmaceuticals Inc (IPIX)

[Rdunn88]

The Vitae sale drawing interest from the blood thirsty law-firms. All because an analyst had a price target of 23?

http://finance.yahoo.com/news/investor-alert-brower-piven-commences-190100629.html

The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Vitae Pharmaceuticals, Inc. (NASDAQ: VTAE) (“Vitae” or the “Company”) relating to the proposed buyout of Vitae by Allergan plc.

Under the terms of the agreement, Vitae shareholders are anticipated to receive $21.00 in cash for each share of Vitae common stock held. The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors failed to satisfy their duties to shareholders, including whether the Board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company’s shares of common stock. For example, according to Yahoo! Finance, at least one Wall Street analyst has issued a price target for Vitae stock at $23.00 per share.

If you currently own common stock of Vitae and believe that the proposed buyout price is too low, or you would like to learn more about the investigation being conducted by Brower Piven,