SAN DIEGO, Aug. 5, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that an investor who currently holds Trius Therapeutics, Inc. (TSRX) shares filed a lawsuit to halt the proposed takeover of Trius Therapeutics, Inc. by Cubist Pharmaceuticals, Inc.
Investors who purchased shares of Trius Therapeutics, Inc. (TSRX) prior to July 30, 2013 and currently hold any of those TSRX shares, have certain options and should contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
On July 30, 2013, Cubist Pharmaceuticals, Inc. (CBST) and Trius Therapeutics, Inc. (TSRX) announced that they have signed an agreement under which Cubist Pharmaceuticals will acquire all outstanding shares of Trius Therapeutics for $13.50 per share in cash or approximately $707 million on a fully diluted basis. In addition to the upfront cash payment, each Trius Therapeutics stockholder will receive one Contingent Value Right (CVR), entitling the holder to receive an additional cash payment of up to $2.00 for each share they own if certain commercial sales milestones are achieved.
However, the plaintiff alleges that the defendants breached their fiduciary duties by agreeing to sell the company at an unfair price via an unfair process. The plaintiff claims that the offer is too low and undervalues the company. Indeed, at least one analyst has set the high target price for TSRX shares at $20.00 per share.
Furthermore, Trius Therapeutics' performance improved lately. In fact, Trius Therapeutics, Inc. reported that its annual Total Revenue rose from $5.02 million in 2009 to $27.189 million in 2012. Shares of Trius Therapeutics, Inc. grew from $3.184 per share in November 2010 to $12.40 on July 23, 2013.
Those who currently are investors in Trius Therapeutics, Inc. (TSRX) shares and purchased any of those TSRX shares prior to the announcement have certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, 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. 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.