San Diego, CA -- (SBWIRE) -- 05/06/2013 -- An investor, who holds NYSEAMEX:PBTH shares, filed a lawsuit in effort to stop the proposed takeover of PROLOR Biotech Inc by OPKO Health, Inc.to acquire for approximately $7.00 per NYSEAMEX:PBTH share.

Investors who purchased shares of PROLOR Biotech Inc (NYSEAMEX:PBTH) prior to April 24, 2013, and currently hold any of those NYSEAMEX:PBTH shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff says that the defendants allegedly breached their fiduciary duties owed to NYSEAMEX:PBTH stockholder by agreeing to sell the company too cheaply via an unfair process.

On April 24, 2013, OPKO Health, Inc. and PROLOR Biotech Inc announced that the companies have signed a merger agreement under which OPKO Health, Inc will acquire PROLOR Biotech Inc in an all-stock transaction. Under the terms of the agreement, which has been approved by the boards of directors of both companies, holders of PROLOR Biotech Inc common stock will receive 0.9951 shares of OPKO Health, Inc. common stock for each share of PROLOR Biotech Inc common stock. Based on a price of $7.03 per share of OPKO Health, Inc. common stock, the transaction is valued at approximately $480 million, or $7.00per share of PROLOR Biotech Inc common stock.

However, the plaintiff alleges that the offer is too low and undervalues the company. Indeed, at least one analyst has set the high target price of NYSEAMEX:PBTH shares at $12.00 per share.

On May 3, 2013, NYSEAMEX:PBTH shares closed at $6.13 per share.

Those who are current investors in PROLOR Biotech Inc (NYSEAMEX:PBTH), 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