NEW YORK, Sept. 9, 2016 /PRNewswire/ -- Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the Northern District of California, case no. 3:16-cv-05154, on behalf of shareholders of Medivation, Inc. ("Medivation" or the "Company") (NasdaqGS: MDVN) who held Medivation securities and have been harmed by Medivation's and its board of directors' (the "Board") alleged violations of Sections 14(d)(4), 14(e), and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and SEC Rule 14d-9 in connection with the proposed acquisition ("Proposed Transaction") of the Company by Pfizer, Inc.(" Pfizer").
On August 30, 2016, Montreal, Inc., a wholly-owned subsidiary of Pfizer, commenced a tender offer for Medivation shares scheduled to expire on September 27, 2016. If a sufficient number of Medivation shares are tendered, a second-step merger will be effectuated without a shareholder vote, and Montreal, Inc. will merge with and into Medivation, with Medivation continuing as a wholly-owned subsidiary of Pfizer.
If you wish to obtain information concerning this action or view a copy of the complaint, you can do so by clicking here: www.faruqilaw.com/MDVNnotice.
Pursuant to the terms of the Merger Agreement, which was unanimously approved by the Board, Medivation shareholders stand to receive $81.50 per share in cash for each share they own. The complaint claims that this offer is inadequate in light of the Company's intrinsic value and long-term prospects and alleges that the Schedule 14D-9 Solicitation/Recommendation Statement (the "14D-9") provides materially incomplete and misleading information about the process leading up to the Board's decision to approve the Proposed Transaction and the valuation analyses performed by the Board's financial advisors, in violation of Sections 14(d)(4), 14(e), and 20(a) of the Exchange Act.
Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud. Faruqi & Faruqi, LLP, was founded in 1995 and the firm maintains its principal office in New York City, with offices in Delaware, California, and Pennsylvania.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact:
Nadeem Faruqi, Esq.
James M. Wilson, Jr., Esq.
FARUQI & FARUQI, LLP
685 3rd Avenue, 26th Floor
New York, NY 10017
Tel.: (212) 983-9330
Fax: (212) 983-9331
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SOURCE Faruqi & Faruqi, LLP