NEW YORK, May 5, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Portola Pharmaceuticals, Inc. ("PTLA" or the "Company") (NASDAQ: PTLA) in connection with the proposed acquisition of the Company by Alexion Pharmaceuticals, Inc. ("ALXN") (NASDAQ: ALXN). Under the terms of the acquisition agreement, shareholders will receive $18.00 for each share of PTLA they own.
If you own PTLA shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether PTLA's board acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, at least one analyst set a target price of $31.00 per PTLA share, or approximately $13.00 above the per-share consideration. Additionally, ALXN hopes to leverage the success of Andexxa, PTLA's marquee drug for the treatment uncontrolled bleeding in people taking certain anticoagulants, to improve its market positioning. According to the ALXN's CEO, Andexxa "is well-aligned with [ALXN's] demonstrated expertise in hematology, neurology and critical care." Finally, ALXN anticipates the addition of Andexxa to its portfolio to be accretive to shareholder value.
Given these facts, WeissLaw is concerned whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
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SOURCE WeissLaw LLP