A lawsuit was filed by an investor who currently holds NYSE:ACT shares against directors of Actavis Inc and other NYSE:ACT stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 05/29/2013 -- An investor, who currently hold shares of Actavis Inc (NYSE:ACT), filed a lawsuit against directors of Actavis Inc over alleged breaches of fiduciary duties.
Investors who are current long-term stockholders in shares of Actavis Inc (NYSE:ACT) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties by rejecting Mylan’s offer to acquire Actavis Inc for $120 per share.
On May 14, 2013 a media report cited an unnamed person familiar with the situation, that Actavis Inc received and rejected a takeover offer from Mylan Inc that valued Actavis Inc at more than $15 billion or $120 per share.
In late April media reports stated that Veleant Pharmaceuticals reportedly was in talks to buy Actavis Inc and in early May other reports stated that Actavis Inc reportedly was in talks to buy Warner Chilcott.
Then on May 20, 2013, Actavis Inc confirmed that Actavis has entered into early stage discussions with Warner Chilcott plc (Nasdaq: WCRX) regarding a potential combination of the two companies.
Actavis Inc reported for the first quarter in 2013 that its quarterly Revenue rose from over $1.52 billion in the first quarter in 2012 to over $1.89 billion in 2013, while its first quarter Net Income of $54.80 million in 2012 declined to a first quarter Net Loss of $102.80 million in 2013.
Shares of Actavis Inc (NYSE:ACT) increased from $84.21 in January 2013 to as high as $132.63 per share on May 22, 2013.
Those who are current long-term investors in shares of Actavis Inc (NYSE:ACT) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego