An investor in NASDAQ:AMLN shares filed a lawsuit against certain directors of Amylin Pharmaceuticals, Inc. over alleged breaches of fiduciary duties in connection with a takeover offer.
Investors who are current long-term stockholders of Amylin Pharmaceuticals, Inc. (NASDAQ:AMLN) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges that defendants breached their fiduciary duties owed to NASDAQ:AMLN stockholders by rejecting a multibillion offer by Bristol-Myers Squibb Co to take over Amylin Pharmaceuticals, Inc. to keep the stock price down so they buy stock options.
Billionaire activist investor Carl Icahn sued Amylin Pharmaceuticals Inc. in April demanding records related to the takeover offer by Bristol-Myers Squibb Co. but later then dropped the lawsuit.
Amylin Pharmaceuticals’ annual Revenue fell from $769.63million in 2008 to $650.68million in 2011 and its Net Loss increased from $152.31million in 2010 to a Net Loss of $543.40million in 2011.
Shares of Amylin Pharmaceuticals, Inc. (NASDAQ:AMLN) grew from as low as $6.05 in November 2008 to as high as $28.21 per share on May 29, 2012.
On June 29, 2012, NASDAQ:AMLN closed at $28.20 per share.
Those who are current long-term stockholders of Amylin Pharmaceuticals, Inc. (NASDAQ:AMLN) shares, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego