San Diego, CA -- (SBWIRE) -- 12/08/2014 -- An investor, who currently holds shares of Avanir Pharmaceuticals Inc (NASDAQ:AVNR filed a lawsuit in effort to halt the proposed takeover of Avanir Pharmaceuticals Inc by Otsuka Pharmaceutical Co for $17.00 per share.

Investors who purchased shares of Avanir Pharmaceuticals Inc (NASDAQ:AVNR) and currently hold any of those NASDAQ:AVNR shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:AVNR stockholders by agreeing to sell Avanir Pharmaceuticals Inc too cheaply via an unfair process to Otsuka Pharmaceutical Co

On December 2, 2014, Avanir Pharmaceuticals Inc (NASDAQ:AVNR) announced that it has entered into an agreement with Otsuka Pharmaceutical Co., Ltd. pursuant to which Otsuka will acquire Avanir Pharmaceuticals Inc (NASDAQ:AVNR) for $17.00 per share in cash.

However, the plaintiff claims that the takeover undervalues Avanir Pharmaceuticals Inc. Indeed, at least one analyst has set the high target price for NASDAQ:ANVR shares at $21.00 per share. Furthermore, Avanir Pharmaceuticals' Total Revenue rose from $2.90 million for the 12 months period that ended on Sept. 30, 2010 to $75.37 million for the 12 months period that ended on Sept. 30, 2013. Shares of Avanir Pharmaceuticals Inc (NASDAQ:AVNR) grew from $0.29 per share in November 2008 to as high as $15.30 per share in late November 2014. In addition, the plaintiff alleges that the process is also unfair to Avanir Pharmaceuticals Inc.

On December 4, 2014, NASDAQ:AVNR shares closed at $16.96 per share.

Those who are current investors in Avanir Pharmaceuticals Inc (NASDAQ:AVNR) 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