Shareholders Foundation, Inc.

Lawsuit for Investors Against Acquisition of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) Filed

A lawsuit was filed for investors in shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) in connection with the proposed takeover and NASDAQ:ARIA stockholders should contact the Shareholders Foundation.

 

San Diego, CA -- (SBWIRE) -- 02/06/2017 -- The Shareholders Foundation announced that an investor who currently holds shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA), filed a lawsuit against the takeover of Ariad Pharmaceuticals, Inc. by Takeda Pharmaceutical Company Limited.

Investors who purch ased shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) and currently hold any of those NASDAQ:ARIA shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:ARIA stockholders by agreeing to sell Ariad Pharmaceuticals, Inc. too cheaply via an unfair process to W Takeda Pharmaceutical Company Limited.

On January 9, 2017, Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) announced it has entered into an agreement to be acquired by Takeda Pharmaceutical Company Limited (TSE: 4502) under which Takeda Pharmaceutical Company will acquire all of the outstanding shares in Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) for $24.00 per share in cash, or a total enterprise value of approximately $5.2 billion,

However, plaintiff claims that the proposed consideration NASDAQ:ARIA shareholders will receive is grossly inadequate and undervalues Ariad Pharmaceuticals, Inc. Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) reported that its annual Total Revenue increased from $105.41 million in 2014 to $118.80 million in 2015 and that its Net Loss grew from $162.60 million in 2014 to $231.16 million in 2015. In addition, the plaintiff alleges that the process is also unfair NASDAQ:ARIA stockholders.

On January 19, 2017, shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) closed at $23.70 per share.

Those who are current investors in Ariad Pharmaceuticals, Inc. shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com