Press release
Micromet Inc. (NASDAQ:MITI) Investor Investigation concerning potential Unfairness of Takeover announced
San Diego, CA, USA (January 31, 2012) -- The Shareholders Foundation announces that an investigation for investors in Micromet Inc. (NASDAQ:MITI) shares was initiated concerning whether the offer to acquire Micromet for $11 per share and the buyout process are unfair to investors in NASDAQ:MITI shares.
Investors in shares of Micromet Inc. (NASDAQ:MITI) and purchased NASDAQ:MITI shares prior to the announcement, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigations by law firms concern whether Micromet Inc, certain officers and directors, and/or others breached their fiduciary duties to Micromet (NASDAQ: MITI) investors in connection with the proposed acquisition.
On Jan. 26, 2012, Amgen (NASDAQ:AMGN) and Micromet, Inc. (NASDAQ:MITI) announced that the companies have entered into a merger agreement under which Amgen will acquire Micromet for $11 per share in cash or a transaction, which values Micromet at approximately $1.16 billion.
However, at least on analyst has set the high target price for NASDAQ:MITI shares at $12 per share, thus above the current offer.
Therefore the investigation for NASDAQ:MITI investors concerns whether the Micromet Board of Directors undertook an adequate sales process and in particular breached their fiduciary duties to Micromet Inc. (NASDAQ:MITI) shareholders by failing to adequately shop the Company before entering into this transaction. The investigation also focuses on whether offer by Amgen undervalues NASDAQ:MITI shares.
Those who are current investors in Micromet Inc. (NASDAQ:MITI) and purchased NASDAQ:MITI shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Media Contact:
Joelle Day
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
Web: http://www.shareholdersfoundation.com
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