WILMINGTON, Del., Sept. 30, 2014 /PRNewswire/ -- Rigrodsky & Long, P.A.:

• Do you own shares of Ambit Biosciences Corporation (NASDAQ GM: AMBI)?
• Did you purchase any of your shares prior to September 29, 2014?
• Do you think the proposed buyout price is too low?
• Do you want to discuss your rights?

Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Ambit Biosciences Corporation ("Ambit" or the "Company") (NASDAQ GM: AMBI) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Daiichi Sankyo Company, Ltd. ("Daiichi Sankyo"), in a transaction valued at approximately $315 million.

Click here to learn more: http://www.rigrodskylong.com/investigations/ambit-biosciences-corporation-ambi.        

Under the terms of the agreement, public shareholders of Ambit would receive $15.00 in cash for each share of Ambit they own.

The investigation concerns whether Ambit's board of directors failed to adequately shop the Company and obtain the best possible value for Ambit's shareholders before entering into an agreement with Daiichi Sankyo.

If you own the common stock of Ambit and purchased your shares before September 29, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com, or at: http://www.rigrodskylong.com/investigations/ambit-biosciences-corporation-ambi.  

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

CONTACT:                                                                                             
Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
(888) 969-4242
(302) 295-5310
Fax: (302) 654-7530
info@rl-legal.com
http://www.rigrodskylong.com

SOURCE Rigrodsky & Long, P.A.