SAN DIEGO, June 20, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP (J&W) has launched an investigation into whether the board members of PAREXEL International Corporation (NASDAQ: PRXL) breached their fiduciary duties in connection with the proposed sale of the Company to Pamplona Capital Management, LLP. PAREXEL provides clinical research and logistics, medical communications, consulting, commercialization, and advanced technology products and services for pharmaceutical, biotechnology, and medical device industries worldwide.
On June 20, 2017, PAREXEL announced they have entered into a definitive merger agreement, in which Pamplona will acquire PAREXEL. Under the terms of the deal, Pamplona will acquire all of the outstanding shares of PAREXEL for $88.10 per share in cash.
The investigation concerns whether the PAREXEL board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for PAREXEL shares of common stock. Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration, especially given that the price target for one Wall Street analyst is $90 per share.
If you are a shareholder of PAREXEL and believe the proposed buyout price is too low and you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP