Ardea Biosciences, Inc. : Board of Directors Under Investigation for Potential Breaches of Fiduciary Duty by Law Offices of Howard G. Smith
04/24/2012| 11:10am US/Eastern
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Law Offices of Howard G. Smith announces that it is investigating
potential claims against the Board of Directors of Ardea Biosciences,
Inc. ("Ardea" or the "Company") (NASDAQ: RDEA) related to the proposed
acquisition of the Company by AstraZeneca. The transaction is valued at
approximately $1.26 billion or $32 per share.
This investigation concerns whether the Board of Directors of Ardea
breached their fiduciary duties to stockholders by failing to adequately
shop the Company before agreeing to enter into the proposed transaction,
and whether the Company has disclosed all material information to
shareholders about the transaction. The Company has seen substantial
recent growth. Further, at least one analyst has set a target price for
the Company's stock at $40.00 per share.
If you are a shareholder of Ardea, if you have information or would like
to learn more about our investigation, 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 Howard
G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847,
Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
(215)
638-4847
Toll Free, (888) 638-4847
howardsmith@howardsmithlaw.com
http://www.howardsmithlaw.com
© Business Wire 2012
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