A lawsuit was filed for investors in shares of MAP Pharmaceuticals Inc. (NASDAQ:MAPP) in effort to block the proposed takeover and NASDAQ:MAPP stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/04/2013 -- An investor in shares of MAP Pharmaceuticals Inc. (NASDAQ:MAPP) filed a lawsuit in effort to stop the proposed takeover of MAP Pharmaceuticals Inc by Allergan, Inc for $25.00 per NASDAQ:MAPP share.
Investors who purchased shares of MAP Pharmaceuticals Inc. (NASDAQ:MAPP) prior to January 22, 2013, and currently hold any of those NASDAQ:MAPP 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 NASDAQ:MAPP stockholders by agreeing to sell the company too cheaply via an unfair process.
On Jan. 22, 2013, Allergan, Inc. (NYSE:AGN) and MAP Pharmaceuticals Inc. (NASDAQ:MAPP) announced that they have entered into a merger agreement whereby Allergan will acquire 100% of the shares of MAP Pharmaceuticals for a price of $25.00 per share.
However, the plaintiff says that the $25-offer is too low and undervalues the company. The plaintiff further claims that also the proposed transaction is unfair to NASDAQ:MAPP stockholders.
Those who are current investors in MAP Pharmaceuticals Inc. (NASDAQ:MAPP), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com