An investigation on behalf of investors of Tobira Therapeutics Inc (NASDAQ:TBRA) in connection with the proposed takeover was announced and NASDAQ:TBRA stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/26/2016 -- The takeover of Tobira Therapeutics Inc is under investigation over potential wrongdoing. The investigation was announced for investors, who currently hold shares of Tobira Therapeutics Inc (NASDAQ:TBRA), concerning whether the takeover of Tobira Therapeutics Inc by Allergan plc is unfair to NASDAQ:TBRA stockholders.
Investors who purchased shares of Tobira Therapeutics Inc (NASDAQ:TBRA) and currently hold any of those NASDAQ:TBRA shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Tobira Therapeutics Inc breached their fiduciary duties owed to NASDAQ:TBRA investors in connection with the proposed acquisition.
On September 20, 2016, Allergan plc (NYSE: AGN) and Tobira Therapeutics Inc (NASDAQ:TBRA) announced that they have entered into an agreement under which Allergan will acquire Tobira Therapeutics Inc (NASDAQ:TBRA) for an upfront payment of $28.35 per share, in cash, and up to $49.84 per share in Contingent Value Rights (CVRs) that may be payable based on the successful completion of certain development, regulatory and commercial milestones, for a total potential consideration of up to $1.695 billion.
However, the investigation concerns whether the offer is unfair to NASDAQ:TBRA stockholders. More specifically, the investigation concerns whether the Tobira Therapeutics Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Shares of Tobira Therapeutics Inc (NASDAQ:TBRA) closed on September 23, 2106 at $39.11 per share.
Those who are current investors in Tobira Therapeutics Inc shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com