WILMINGTON, Del., Nov. 17, 2014 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of Allergan, Inc. (NYSE: AGN)?
- Did you purchase any of your shares prior to November 17, 2014?
- Do you think the proposed buyout value is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Allergan, Inc. ("Allergan" or the "Company") (NYSE: AGN) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Actavis plc ("Actavis") (NYSE: ACT), in a transaction valued at approximately $66 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/allergan-inc-agn-buyout.
Under the terms of the proposal, public shareholders of Allergan would receive $129.22 in cash and 0.3683 shares of Actavis common stock for each share of Allergan they own. Based on Actavis's closing stock price on November 14, 2014, Allergan shareholders would have received consideration valued at approximately $219.00 per share.
The investigation concerns the Allergan's board of directors failed to adequately shop the Company and obtain the best possible value for Allergan's shareholders before entering into an agreement with Actavis. According to Yahoo! Finance, at least one analyst has issued a price target for Allergan stock at $232.00 per share.
If you own the common stock of Allergan and purchased your shares before November 17, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, Delaware 19803; by telephone at (888) 969-4242; or by e-mail to [email protected], or at: http://www.rigrodskylong.com/investigations/allergan-inc-agn-buyout.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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SOURCE Rigrodsky & Long, P.A.