The Shareholders Foundation announces that an investor, who currently holds shares of Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) filed a lawsuit in effort to halt the proposed takeover of Salix Pharmaceuticals, Ltd. by Cosmo Pharmaceuticals S.p.A.
Investors who purchased shares of Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) and currently hold any of those NASDAQ:SLXP shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:SLXP stockholders by agreeing to sell Salix Pharmaceuticals, Ltd.. too cheaply via an unfair process to Cosmo Pharmaceuticals S.p.A.
On July 8, 2014, Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP) and Cosmo Pharmaceuticals S.p.A. (SIX: COPN) announced a merger agreement under which Salix will combine with Cosmo Technologies Limited, a subsidiary of Cosmo Pharmaceuticals S.p.A.
However, the plaintiff claims that the offer is unfair to NASDAQ: SLXP stockholders and undervalues Salix Pharmaceuticals, Ltd.
Indeed, Salix Pharmaceuticals, Ltd. reported that its annual Total Revenue rose from $336.97 million in 2010 to $933.84 million in 2013 and that its Net Loss of $27.06 million in 2010 turned into a Net income of $143.03 million in 2013. Shares of Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) grew from $27.78 per share in September 2011 to as high as $140.02 per share on July 1, 2014.
On August 26, 2014, NASDAQ:SLXP shares closed at $157.64 per share.
Those who are current investors in Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com