A lawsuit was filed by investor in shares of Cubist Pharmaceuticals Inc (NASDAQ:CBST) in effort to stop the proposed takeover and NASDAQ:CBST stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/22/2014 -- An investor, who currently holds shares of Cubist Pharmaceuticals Inc (NASDAQ:CBST), filed a lawsuit in effort to halt the proposed takeover of Cubist Pharmaceuticals Inc by Merck for $102 per share.
Investors who purchased shares of Cubist Pharmaceuticals Inc (NASDAQ:CBST) and currently hold any of those NASDAQ:CBST shares 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 owed to NASDAQ:CBST stockholders by agreeing to sell Cubist Pharmaceuticals Inc too cheaply via an unfair process to Merck
On December 8, 2014, Merck (NYSE:MRK), known as MSD outside the United States and Canada, and Cubist Pharmaceuticals, Inc. (NASDAQ:CBST) announced that the companies have entered into an agreement under which Merck will acquire Cubist for $102 per share in cash.
However, the plaintiff claims that the offer is too low and undervalues Cubist Pharmaceuticals Inc. Cubist Pharmaceuticals' performance improved latetly. In fact, Cubist Pharmaceuticals Inc reported that its annual Total Revenue rose from $636.46 million in 2010 to over $1.05 billion in 2013. Shares of Cubist Pharmaceuticals Inc (NASDAQ:CBST) grew from under $20 in early 2010 to as high as $79.59 per share in February 2014.
On December 18, 204, NASDAQ:CBST shares closed at $97.77 per share.
Those who are current investors in Cubist Pharmaceuticals Inc (NASDAQ:CBST) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego