Newman Ferrara LLP Announces Investigation of DUSA Pharmaceuticals Inc.
Newman Ferrara LLP is investigating potential claims against the board of directors of DUSA Pharmaceuticals Inc. (“DUSA”) (Nasdaq: DUSA) concerning the proposed acquisition of DUSA by Sun Pharmaceutical Industries Ltd. (“Sun Pharma”).
On November 8, 2012, DUSA announced that it had entered into a definitive agreement to be acquired by Sun Pharma in an all cash deal valued at approximately $230 million. Under the terms of the agreement, Sun Pharma will commence a tender offer to acquire all outstanding shares of DUSA stock from DUSA's shareholders at a price of $8.00 in cash for each share of DUSA stock owned. Prior to announcement of the proposed deal, DUSA common stock had increased in value by over 77% since November 2011. The proposed deal was announced ahead of DUSA's third quarter corporate highlights and financial results that were scheduled to be released the morning of November 8, 2012.
DUSA's Board of Directors has unanimously approved the proposed deal and has recommended that DUSA's shareholders tender their shares to Sun Pharma pursuant to the tender offer.
Newman Ferrara LLP's investigation concerns whether DUSA's Board of Directors has breached its fiduciary duties to act in the best interests of DUSA's shareholders and to take all necessary steps to ensure that DUSA's shareholders receive the maximum value readily available for their shares of DUSA common stock.
Concerned investors are encouraged to contact Newman Ferrara attorney Roy Shimon at (212) 619-5400 or email@example.com to discuss this investigation, their rights, or potential remedies.
Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.
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Roy Shimon, (212) 619-5400