Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of Facet Biotech Corporation
March 10 2010 - 8:36AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Facet Biotech Corporation (“Facet Biotech” or the “Company”)
(Nasdaq:FACT) related to the Company’s agreement to be acquired by
Abbott Laboratories (“Abbott”). The cash transaction is valued at
approximately $450 million.
Under the terms of the definitive agreement entered into by the
parties, Abbott will promptly commence a tender offer to purchase
all outstanding shares of Facet Biotech at $27.00 per share in
cash. Completion of the transaction is expected to occur in the
second quarter of 2010. The investigation concerns possible
breaches of fiduciary duty and other violations of law related to
approval of the transaction by the Facet Biotech board of
directors.
If you own shares of Facet Biotech Corporation, 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 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.
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