BOSTON, Aug. 24, 2014 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duty by the Board of Directors of InterMune, Inc. ("InterMune" or the "Company") (NASDAQ: ITMN) concerning its proposed merger with Roche in an all cash transaction.
InterMune stockholders will receive $74 in cash for each InterMune share held. This represents a premium of barely 38% of InterMune's previous closing price, far below recent premiums for pharmaceutical companies with fully developed treatments akin to InterMune's Pirfenidone. The transaction is expected to be executed as a two stage tender offer, commencing on or before August 29, 2014.
Block & Leviton's investigation seeks to determine, among other things, whether InterMune's Directors breached their fiduciary duties by failing to maximize shareholder value in the proposed merger with Roche and the fairness of the process by which they considered and approved the transaction. The firm is also investigating whether or not Roche's officers and board members aided and abetted such breaches of fiduciary duty.
If you are a shareholder of InterMune and have questions about your legal rights, or if you have information relevant to this investigation, please contact attorney Steven P. Harte, at (617) 398-5600 or email him at Steven@blockesq.com.
Block & Leviton is a Boston-based law firm representing investors nationwide for violations of securities laws. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 70 years. This notice may constitute attorney advertising.
BLOCK & LEVITON LLP
Steven P. Harte, Esq.
SOURCE Block & Leviton LLP