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Law Office of Jonathan M. Stein, P.L. Investigates Possible Breach of Fiduciary Duty by the Board of ZymoGenetics, Inc.

^{Published on 2010-09-08 12:01:18 - Market Wire}
 

BOCA RATON, Fla.--([ BUSINESS WIRE ])--The Law Office of Jonathan M. Stein, P.L. is investigating the Board of Directors of ZymoGenetics, Inc. ("ZymoGenetics" or the "Company") (Nasdaq:ZGEN) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to complete a sale of the Company to Bristol-Myers Squibb Co. ("Bristol-Myers"). Under the terms of the proposed transaction, ZymoGenetics shareholders are to receive $9.75 in cash for each share of ZymoGenetics common stock they own for a total transaction value of approximately $885 million.

The investigation involves whether the Board of Directors of ZymoGenetics breached their fiduciary duties to ZymoGenetics stockholders by failing to adequately shop the Company before agreeing to enter into the transaction and whether ZymoGenetics has disclosed all material information to shareholders about the proposed transaction. Specifically, Bristol-Myers will gain full rights to a promising treatment for Hepatitis C infection, which could be an important contributor to future growth.

If you have information regarding the above investigation or own stock in ZymoGenetics and wish to obtain additional information, please contact Jonathan M. Stein, Esq. either via email at [ jstein@jonathansteinlaw.com ] or by telephone at (561) 961-2244.

The Law Office of Jonathan M. Stein, P.L.represents shareholders and consumers in complex litigation, including class action and derivative litigation. More information about the firm is available through its website, [ www.jonathansteinlaw.com ], and upon request from the firm. Jonathan M. Stein is the attorney responsible for the content of this release.