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NEW YORK--([ BUSINESS WIRE ])--Pomerantz Haudek Grossman & Gross LLP is investigating claims on behalf of investors of Pharmasset, Inc. (aPharmasseta or the aCompanya) (NASDAQ: VRUS) concerning the proposed acquisition of Pharmasset by Gilead Sciences, Inc. in a cash transaction valued at $11 billion.

The investigation concerns whether the board of directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Pharmasset shareholders would receive $137 per share in a cash tender offer. However, the Company has three clinical-stage product candidates for the treatment of chronic hepatitis C virus, and as recently as November 14, 2011, was reporting very positive news about its new clinical stage drug, PSI-7977. The proposed share price therefore may not adequately reflect the significant potential of these new drugs in the marketplace.

Pharmasset shareholders seeking more information about this acquisition are advised to contact Gustavo Bruckner, Esq. at [ gfbruckner@pomlaw.com ] or 212-661-1100 or toll free at 888-476-6529, ext. 302. Shareholders may also contact Rachelle R. Boyle at [ rrboyle@pomlaw.com ] or 212-661-1100 or 888-476-6529, ext. 237.

The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See [ www.pomerantzlaw.com ].