ARIAD Pharma Under Investigation in Takeda Deal

Jan 16, 2017

Nadeem Faruqi, founding partner at Faruqi & Faruqi, a NYC national securities firm, is investigating the Board of Directors of ARIAD Pharmaceuticals for potential breaches of fiduciary duties in connection with the sale of the company to Takeda Pharmaceutical Co. for about $5.2 billion, according to PR Newswire. ARIAD's stockholders will only receive $24.00 in cash for each share of ARIAD's common stock they own.

The investigation focuses on whether ARIAD's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of ARIAD's shareholders.

Faruqi & Faruqi, LLP is working together in this investigation with Juan E. Monteverde from Monteverde & Associates PC.