BALA CYNWYD, Pa. -- (Business Wire)
Law office of Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Ambit Biosciences
Corporation (“Ambit” or the “Company”) (Nasdaq: AMBI) relating to the
proposed acquisition by Daiichi Sankyo Company, Ltd.
Click here to learn more about the investigation http://brodsky-smith.com/830-ambi-ambit-biosciences-corporation.html,
or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Ambit shareholders will receive only
$15.00 in cash for each share of Ambit common stock they own. In
addition, stockholders of Ambit will receive one Contingent Value Right
(CVR) which will entitled the holder to receive an additional cash
payment of up to $4.50 per share if certain milestones are reached.
However, there is no guarantee that these milestones will ever be
reached.
The investigation concerns possible breaches of fiduciary duty and other
violations of state law by the Board of Directors of Ambit for not
acting in the Company’s shareholders best interests in connection with
the sale process. The transaction may undervalue the Ambit as the
Company’s drug candidate quizartinib is in late-stage trials for the
treatment of acute myeloid leukemia, which made up 36% of all new
leukemia cases in 2014. The transaction may also result in a loss for
many long-term Ambit shareholders as Ambit stock traded at $18.29 on
October 21, 2013 and an analyst has set a $17.00 per share price target
for Ambit stock.
If you own shares of Ambit common stock and wish to discuss the legal
ramifications of the investigation, or have any questions, you may
e-mail or call the law office of Brodsky & Smith, LLC who will, without
obligation or cost to you, attempt to answer your questions. You may
contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky &
Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail
at investorrelations@brodsky-smith.com,by
visiting http://brodsky-smith.com/830-ambi-ambit-biosciences-corporation.html,
or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise
representing shareholders throughout the nation in securities and case
action lawsuits. The attorneys at Brodsky & Smith have been appointed by
numerous courts throughout the country to serve as lead counsel in class
actions and successfully recovered millions of dollars for our clients
and shareholders. Attorney advertising. Prior results do not guarantee a
similar outcome.
Contacts:
Brodsky & Smith, LLC
Jason L. Brodsky, Esquire
Evan J.
Smith, Esquire
877-LEGAL-90
investorrelations@brodsky-smith.com
http://brodsky-smith.com/830-ambi-ambit-biosciences-corporation.html
Source: Brodsky & Smith, LLC
© 2024 Canjex Publishing Ltd. All rights reserved.