The Law Firm of Levi & Korsinsky, LLP Announces Investigation of Poniard Pharmaceuticals, Inc.
08 Juli 2011 - 1:09AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Poniard Pharmaceuticals, Inc. (“Poniard” or the “Company”) (NASDAQ:
PARD) for possible breaches of fiduciary duty and other violations
of state law in connection with the sale of the Company to
ALLOZYNE, Inc. Under the terms of the transaction, Poniard will
issue shares of its common stock to ALLOZYNE stockholders based on
an exchange ratio to be determined prior to the transaction’s
closing. The exchange ratio has been calculated using the 5-day
average closing sales price of Poniard common stock prior to the
merger announcement, or $0.2270 per share. Former Poniard
shareholders are expected to own approximately 35% of the combined
company on a fully diluted basis.
Click here to learn how to join the action:
http://www.zlk.com/poniard-pharmaceuticals-pard, or call:
877-363-5972.
The investigation concerns whether the Poniard Board of
Directors breached their fiduciary duties to Poniard stockholders
by failing to adequately shop the Company before entering into this
transaction which is dilutive to Poniard shareholders. In
particular, at least one analyst set a target price for Poniard
stock at $1 per share.
If you own common stock in Poniard and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972, or visit
http://www.zlk.com/poniard-pharmaceuticals-pard.html.
Levi & Korsinsky is a national firm with offices in New
York, California and Washington D.C. The firm has extensive
expertise in prosecuting investor securities litigation involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. The attorneys at Levi & Korsinsky have been
appointed by numerous courts throughout the country to serve as
lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information, please
feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
Poniard Pharmaceuticals, Inc. (MM) (NASDAQ:PARD)
Historical Stock Chart
Von Sep 2024 bis Okt 2024
Poniard Pharmaceuticals, Inc. (MM) (NASDAQ:PARD)
Historical Stock Chart
Von Okt 2023 bis Okt 2024
Echtzeit-Nachrichten über Poniard Pharmaceuticals, Inc. (MM) (NASDAQ): 0 Nachrichtenartikel
Weitere Levi & Korsinsky, LLP News-Artikel