The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the board of directors of Auxilium Pharmaceuticals Inc. (“Auxilium” or the “Company”) (NASDAQ: AUXL) relating to the proposed buyout of the Company by QLT Inc. (“QLT”).
On June 26, 2014, Auxilium announced that it had entered into a definitive agreement under which Auxilium plans to merge with QLT in an all-stock deal valued at approximately $851 million.
Under the terms of the transaction, Auxilium shareholders will receive 3.1359 QLT shares for each share of Auxilium common stock they own. The firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether QLT is underpaying for Auxilium shares.
If you currently own common stock of Auxilium and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.
Charles J. Piven, 410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153