July 16, 2012
Bernstein Liebhard LLP is investigating whether the Board of Directors of Par Pharmaceutical Companies, Inc. (“Par” or the “Company”) (NYSE: PRX) breached its fiduciary duty to its shareholders in agreeing to sell Par to an affiliate of TPG.
Under the terms of the agreement, Par shareholders will receive $50.00 in cash for each share they own. The investigation is focused on the potential unfairness of the price to Par shareholders and the process by which the Par 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 nine years.