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The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Allos Therapeutics, Inc.

The merger of Allos Therapeutics, Inc. (“Allos Therapeutics” or “ALTH”) (NASDAQ: ALTH) and AMAG Pharmaceuticals, Inc. is being investigated on behalf of shareholders by former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP. Allos Therapeutics recently entered into an acquisition agreement under which Allos Therapeutics shareholders will receive a fixed ratio of only 0.1282 shares of AMAG shares for each share of Allos Therapeutics/ALTH owned.

If you are an affected shareholder, and you want to learn more about the investigation or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The definitive acquisition agreement involves a stock-for-stock transaction valued at approximately $260 million. The transaction is expected to close in the fourth quarter of 2011.

“We are investigating the fairness of the proposed transaction to Allos Therapeutics shareholders, whether the shareholders are being underpaid for their stock, and whether Allos Therapeutics’ Board of Directors acted in the shareholders’ best interests,” said shareholder rights attorney Willie Briscoe. In particular, based on AMAG Pharmaceutical’s closing price the day prior to the acquisition announcement, the acquisition price represents a value of only $2.44 per share to Allos Therapeutics/ALTH shareholders. In addition, according to Thompson/First Call, at least one analyst has set a target price of $8.00 per share for Allos Therapeutics/ALTH shares. “Based on these and other factors, our anticipated lawsuit will seek to obtain the highest share price for all shareholders,” said Willie Briscoe.

The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.

Powers Taylor, LLP is a boutique litigation firm that handles a variety of complex business litigation matters nationwide, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

Contacts:

Powers Taylor, LLP
Patrick Powers, 877-728-9607
patrick@powerstaylor.com
or
The Briscoe Law Firm, PLLC
Willie Briscoe, 877-397-5991
WBriscoe@TheBriscoeLawFirm.com

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