FACT Facet Biotech (MM)

Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Facet Biotech Corporation (“Facet Biotech” or the “Company”) (Nasdaq:FACT) related to the Company’s agreement to be acquired by Abbott Laboratories (“Abbott”). The cash transaction is valued at approximately $450 million.

Under the terms of the definitive agreement entered into by the parties, Abbott will promptly commence a tender offer to purchase all outstanding shares of Facet Biotech at $27.00 per share in cash. Completion of the transaction is expected to occur in the second quarter of 2010. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by the Facet Biotech board of directors.

If you own shares of Facet Biotech Corporation, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

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