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Law Office of Brodsky & Smith, LLC Announces Investigation of Allos Therapeutics, Inc.

^{Published on 2011-07-20 13:21:39 - Market Wire}
 

BALA CYNWYD, Pa.--([ BUSINESS WIRE ])--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Allos Therapeutics, Inc. (aAllosa or the aCompanya) (Nasdaq: ALTH) relating to the proposed acquisition by AMAG Pharmaceuticals, Inc (Nasdaq:AMAG) (aAMAGa).

Under the terms of the transaction Allos shareholders would receive a fixed ratio of 0.1282 shares of AMAG stock for each share Allos stock they own. The transaction values Allos stock at approximately $2.44 a share. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Allos for not acting in the Companya™s shareholders' best interests in connection with the sale process to AMAG. The transaction may undervalue Allos as Allos stock traded at $2.96 as recently as May 2, 2011 and traded at $5.77 on July 23, 2010. Additionally, an analyst has set a price target of $8.00 for the Company.

If you own shares of Allos stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at [ investorrelations@brodsky-smith.com ], visiting [ http://brodsky-smith.com/318-alth-allos-therapeutics-inc.html ], or by calling toll free 877-LEGAL-90.