Health & Fitness
Health and Fitness
Health and Fitness
Thu, October 6, 2011
Wed, October 5, 2011
Tue, October 4, 2011
Mon, October 3, 2011
The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Pharmaceutical Product Development, Inc.
DALLAS--([ BUSINESS WIRE ])--Former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ] are investigating the acquisition of Pharmaceutical Product Development, Inc. (aPharmaceutical Product Developmenta or aPPDIa) (NASDAQ: PPDI) by the private equity companies The Carlyle Group and Hellman & Friedman for Pharmaceutical Product Development shareholders. Under the proposed going private buyout, Pharmaceutical Product Development shareholders will receive only $33.25 in cash for each share of Pharmaceutical Product Development/PPDI stock owned. aWe believe that the transaction may significantly undervalue Pharmaceutical Product Development stock, and our anticipated lawsuit will seek to obtain the highest share price for all shareholders,a said shareholder rights attorney Willie Briscoe.
"Based on these and other factors, we are investigating the fairness of the proposed transaction to Pharmaceutical Product Development shareholders, whether the shareholders are being underpaid for their stock, and whether Pharmaceutical Product Developmenta™s Board of Directors acted in the shareholdersa™ best interest"
If you are an affected investor, and you want to learn more about the lawsuit or join the action, 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, (214) 706-9314, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.
The definitive acquisition agreement involves an all cash transaction valued at approximately $3.79 billion, including assumption of approximately $136 million in debt. The transaction is expected to be completed in the fourth quarter of 2011.
Although Pharmaceutical Product Development has reported that the acquisition price represents an approximately 29.6% premium over Pharmaceutical Product Developmenta™s closing price the day before the announcement, as recently as mid-August 2011 PPDI shares closed at over $32.20 per share. In addition, according to Thompson/First Call, analysts have set a target price as high as $38.00 per share for PPDI stock. aBased on these and other factors, we are investigating the fairness of the proposed transaction to Pharmaceutical Product Development shareholders, whether the shareholders are being underpaid for their stock, and whether Pharmaceutical Product Developmenta™s Board of Directors acted in the shareholdersa™ best interest,a said Willie Briscoe.
[ The Briscoe Law Firm, PLLC ] 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.
