NEW YORK, Jan. 18, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Ariad Pharmaceuticals, Inc. (NASDAQ: ARIA) ("ARIA" or the "Company") in connection with the proposed acquisition of the Company by Takeda Pharmaceutical Company Limited ("Takeda"). On January 9, 2017, Takeda announced a definitive agreement to acquire all outstanding shares of ARIA in a transaction valued at approximately $5.2 billion. Under the terms of the agreement, the Company's shareholders will receive $24.00 in cash for each ARIA share they own.
WeissLaw is investigating whether ARIA's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the acquisition, which has been unanimously approved by the Board of Directors of the Company, is a strategic transaction which heavily favors the interests of Takeda and its shareholders at the expense of ARIA's shareholders. According to Takeda's CEO, the transaction not only strengthens its position in hematology, it also expands Takeda's presence in the very important solid tumor and non-small cell lung cancer treatment segment which it intends on leveraging to generate future growth.
Given these facts, WeissLaw is investigating whether ARIA's Board acted in the best interests of ARIA's public shareholders to maximize shareholder value prior to entering into the agreement. If you own ARIA shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/ariad-pharmaceuticals-inc/
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SOURCE WeissLaw LLP