BALA CYNWYD, Pa., May 12, 2016 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Alexza Pharmaceuticals, Inc. ("Alexza" or "the Company") (Nasdaq- ALXA-News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Ferrer Pharma, Inc ("Ferrer Pharma").
Click here to learn more about the investigation http://brodsky-smith.com/1072-alxa-alexza-pharmaceuticals-inc.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Alexza shareholders will receive only $0.90 in cash for each share of Alexza stock they own. In addition, Alexza shareholders will receive one contingent value right entitling them to receive a pro-rata share of up to four payment categories in an aggregate maximum amount of $35 million. However, the contingent value right payment is not guaranteed and will only be paid if specified milestones are achieved. The investigation concerns whether the Board of Alexza breached their fiduciary duties to shareholders and whether Ferrer Pharma is underpaying for the Company. The transaction may undervalue the Company and would result in a substantial loss for many long-term Alexza shareholders. For example, Alexza stock traded at $5.00 per share on July 22, 2014 and an analyst has set a price target on Alexza stock at $1.25 per share.
If you own shares of Alexza stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/1072-alxa-alexza-pharmaceuticals-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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SOURCE Brodsky & Smith, LLC