Anadys Pharmaceuticals, Inc.

Robbins Umeda LLP Announces an Investigation of Anadys Pharmaceuticals, Inc.

Robbins Umeda LLP, a shareholder rights litigation firm, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of Anadys Pharmaceuticals, Inc.   (NASDAQ: ANDS) in connection with their efforts to sell the company to Roche (SIX: RO, ROG; OYCQX: RHHBY).

On October 17, 2011, Anadys announced that it had entered into a definitive merger agreement pursuant to which Roche will acquire all outstanding shares of the company in an all cash tender offer.  According to the terms of the deal, shareholders will receive $3.70 for each share of Anadys they own.  The transaction is expected to close in the first quarter of 2012. 

Robbins Umeda LLP’s investigation focuses on whether Anadys’s board is undertaking a fair process to obtain maximum value and adequately compensate shareholders.  There are at least two analysts with price targets of $4.00 per share, both higher than the offer price.

Robbins Umeda is also investigating whether self-dealing and other employment guarantees played a part in the decision by the board to enter into the merger agreement.  In the press release announcing the transaction, the company stated that directors and officers beneficially owning 7.9% of Anadys shares have agreed to tender their shares and otherwise support the transaction. 

If you own stock in Anadys and would like more information about your shareholder rights, please complete the form below and we will contact you directly.  We also welcome you to call us at 800-350-6003.

 

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