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The Law Office of Abe Shainberg is Launching an Investigation into the Possible Breaches of Fiduciary Duty by the Board of King

^{Published on 2010-10-13 12:20:25 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of King Pharmaceuticals, Inc. (NYSE:KG) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Pfizer, Inc. Under the terms of the transaction, King shareholders will $14.25 in cash for each share of King common stock, for a total transaction value of approximately $3.6 billion.

The investigation concerns whether the King Board of Directors breached their fiduciary duties to King stockholders by failing to adequately shop the Company before entering into this transaction and whether Pfizer is underpaying for King shares, thus unlawfully harming King stockholders. At least one analyst set a price target for King stock at $15.00 per share.

If you own common stock in King and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/king-kg.html ].

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide.