NEW YORK--(BUSINESS WIRE)-- Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Micromet, Inc. (NASDAQ:MITI) arising from its agreement for the Company to be acquired by Amgen (NASDAQ:AMGN) for $11.00 per share through a cash tender offer. The deal is anticipated to close in the first quarter of 2012, subject to customary conditions, including the tender of at least a majority of outstanding Micromet shares on a fully diluted basis.
Weiss & Lurie is investigating whether Micromet’s Board acted in the best interests of its shareholders in approving the transaction. In approving the deal, the Board may have breached its duties to shareholders by failing to properly maximize the value of Micromet’s shares, such as by providing a level playing field to competing bidders or by considering alternative transactions. Notably, at least one analyst set the price target for Micromet stock at $12.00 per share.
If you own Micromet shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun either by email at info@weisslurie.com or by telephone at (888) 593-4771.
Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at info@weisslurie.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.
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Weiss & Lurie
Julia J. Sun, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
T: 212.682.3025
F: 212.682.3010
www.weisslurie.com
info@weisslurie.com
Source: Weiss & Lurie
