WILMINGTON, Del., Feb. 14, 2014 /PRNewswire/ -- Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Cadence Pharmaceuticals, Inc. ("Cadence" or the "Company") (NASDAQ GS: CADX) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Mallinckrodt plc ("Mallinckrodt") (NYSE: MNK), in a transaction valued at approximately $1.3 billion.
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Under the terms of the agreement, public shareholders of Cadence will receive $14.00 per share in cash for each share of Cadence they own.
The investigation concerns whether Cadence's board of directors failed to adequately shop the Company and obtain the best possible value for Cadence's shareholders before entering into an agreement with Mallinckrodt. According to Yahoo! Finance, at least one analyst has issued a price target for Cadence stock at $15.00 per share.
If you own the common stock of Cadence and purchased your shares before February 11, 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@example.com, or at: http://www.rigrodskylong.com/investigations/cadence-pharmaceuticals-inc-cadx.
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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