SHAREHOLDER ALERT: Pomerantz LLP Investigates Claims That the Merger May Not Be in the Best Interest of Investors of Pharmacyclics, Inc. - PCYC

NEW YORK, March 5, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Pharmacyclics, Inc. ("Pharmacyclics" or the "Company") PCYC US (CUSIP:  716933106) concerning the proposed acquisition of Pharmacyclics by AbbVie Inc. ("AbbVie").           

Pharmacyclics shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 237.

The investigation concerns whether the Pharmacyclics directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value.  Under the terms of the proposed agreement AbbVie will offer to acquire all of the outstanding shares of Pharmacyclics' common stock for $261.25 per share, consisting of cash and AbbVie common stock.  Pharmacyclics' stockholders will be permitted to elect cash, AbbVie common stock or a combination, subject to proration. The aggregate consideration will consist of approximately 58% cash and 42% AbbVie common stock. However, synergies may not be fully reflected in the offer price. Moreover, there are indications that management may stay on.

Pomerantz LLP, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.

CONTACT:
Robert Willoughby
Pomerantz LLP
212-661-1100 ext. 237
rswilloughby@pomlaw.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-llp-investigates-claims-that-the-merger-may-not-be-in-the-best-interest-of-investors-of-pharmacyclics-inc---pcyc-300046232.html

SOURCE Pomerantz LLP