SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Somaxon Pharmaceuticals, Inc.
NEW YORK--(BUSINESS WIRE)-- Levi & Korsinsky is investigating the Board of Directors of Somaxon Pharmaceuticals, Inc. ("Somaxon" or the "Company") (NasdaqCM: SOMX) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Pernix Therapeutics Holdings, Inc. (NYSE MKT: PTX).
Click here to learn more about the investigation: http://zlk.9nl.com/somaxon-pharmaceuticals-somx/, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Somaxon shareholders will receive an aggregate consideration equal to $25 million in Pernix common stock. The number of shares of Pernix stock issued will be based on the volume-weighted average price of Pernix's common stock in the 30 day period prior to the merger's closing, representing a value of between $6.00 and $9.00 per share. The investigation concerns whether the Somaxon Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this agreement with Pernix Therapeutics Holdings, Inc.
If you own common stock in Somaxon and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/somaxon-pharmaceuticals-somx/.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
KEYWORDS: United States North America New York
The article SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Somaxon Pharmaceuticals, Inc. originally appeared on Fool.com.
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