Law Firm Brower Piven Announces Investigation of PROLOR Biotech, Inc.
STEVENSON, Md. -- April 24, 2013
The securities litigation firm of Brower Piven, A Professional Corporation,
has commenced an investigation into possible breaches of fiduciary duty to
current shareholders of PROLOR Biotech, Inc. (“PROLOR” or the “Company”)
(NYSE: PBTH) and other violations of state law by the board of directors of
PROLOR relating to the proposed buyout of the Company by OPKO Health, Inc.
(“OPKO”). The firm’s investigation seeks to determine, among other things,
whether PROLOR’s board of directors breached their fiduciary duties by failing
to maximize shareholder value.
According to the press release announcing the proposed buyout, PROLOR
shareholders will receive 0.9951 shares of OPKO common stock for each share of
PROLOR common stock they own. As stated in the same press release, based on a
price of $7.03 per share of OPKO common stock, the transaction is valued at
$7.00 per share of PROLOR common stock. According to Yahoo! Finance, the
median and high analyst price target per PROLOR share is $8.00 and $12.00,
If you currently own common stock of PROLOR and would like to learn more about
the investigation being conducted by Brower Piven, you may email or call
Brower Piven, who will, without obligation or cost to you, attempt to answer
your questions. You may contact Brower Piven by email at
email@example.com, by calling (410) 415-6616, or at Brower Piven, A
Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating securities and
other class action cases of over 60 years.
Brower Piven, A Professional Corporation
Charles J. Piven, 410-415-6616
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