Health & Fitness
Health and Fitness
Health and Fitness
Fri, November 5, 2010
BMP Sunstone Corp. Shareholder Investigation by Briscoe Law Firm Concerning the Acquisition by Sanofi-aventis
DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of [ BMP Sunstone Corporation ] (aBMP Sunstonea or aBJGP) (NASDAQ: BJGP) related to the acquisition of BMP Sunstone by Sanofi-aventis.
"BJGP) (NASDAQ: BJGP) related to the acquisition of BMP Sunstone by Sanofi-aventis."
Under the definitive merger agreement, which was announced on October 28, 2010, BMP Sunstone shareholders will only receive $10.00 in cash for each share of BMP Sunstone/BJGP common stock they hold. The transaction is valued at $520.6 million on a fully diluted share basis, and the acquisition is structured to include a merger of BMP Sunstone with a wholly owned subsidiary of Sanofi-aventis.
Based on the lack of an appreciable premium to shareholders, BMP Sunstonea™s historical stock price, and other factors, the proposed transaction may undervalue BMP Sunstone/BJGP shares and not be fair to BMP Sunstone shareholders. The investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of BMP Sunstone for approving this transaction and whether BMP Sunstonea™s Board of Directors acted in the shareholdersa™ best interests.
If you currently own shares of BMP Sunstone/BJGP and would like additional information regarding this investigation, or if you have information regarding the allegations involving this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
