Salix Pharmaceuticals, Ltd. Shareholder Alert: Bernstein Liebhard LLP Announces Investigation of Acquisition by Valeant Pharmaceuticals International, Inc.
February 24, 2015
Bernstein Liebhard LLP is investigating whether the Board of Directors of Salix Pharmaceuticals, Ltd. (“Salix” or the “Company”) (NASDAQ: SLXP) breached its fiduciary duty to its shareholders in agreeing to sell Salix to Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX).
Under the terms of the agreement, Salix shareholders will receive $158.00 in cash for each share they own. The investigation is focused on the potential unfairness of the price to Salix shareholders and the process by which the Salix Board of Directors considered and approved the transaction.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last twelve years.