Anadys Pharmaceuticals, Inc. Takeover Under Investor Investigation

If you purchased shares of Anadys Pharmaceuticals (NASDAQ: ANDS) prior to the announcement and currently hold those shares, you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Anadys Pharmaceuticals
Affected Securities: 

San Diego, Oct. 17, 2011 (Shareholders Foundation) -- The announcement that Anadys Pharmaceuticals agreed to be acquired by Roche for $3.70 per NASDAQ:ANDS shares prompted an investigation on behalf of investors of Anadys Pharmaceuticals, Inc. (NASDAQ: ANDS) concerning whether the offer to acquire Anadys Pharmaceuticals, Inc. and the buyout process are unfair to investors of Anadys Pharmaceuticals (ANDS) and whether certain of its officers and directors or others breach their fiduciary duties owed investors in NASDAQ ANDS shares.

The investigation by a law firm concerns whether Anadys Pharmaceuticals Inc, certain of its officers and directors, and/or others breached their fiduciary duties owed Anadys Pharmaceuticals, Inc. (ANDS) investors in connection with the proposed acquisition.

On Monday, Oct. 17, 2011, Anadys Pharmaceuticals, Inc. (NASDAQ: ANDS) announced that it has entered into an merger agreement to be acquired by Roche (SIX:RO, ROG; OTCQX: RHHBY). Under the terms of the proposed transaction, Roche will commence an all cash tender offer for all outstanding shares of common stock of Anadys Pharmaceuticals, Inc. at USD 3.70 per share. Anadys Pharmaceuticals, Inc said the $3.70 offer represents a 256% premium over the closing price of USD 1.04 on October 14, 2011. Following the takeover news NASDAQ: ANDS shares jumped on Monday to $3.66 per share.

However, at least one analyst has set the high target price for NASDAQ: ANDS shares at $4 per share.

Therefore, the investigation concerns whether the Anadys Pharmaceuticals Board of Directors undertook an adequate sales process and in particular breached their fiduciary duties to NASDAQ:ANDS shareholders by failing to adequately shop the Company before entering into this transaction. Furthermore the investigation concerns on whether Roche would underpay for NASDAQ:ANDS shares, thus unlawfully harming Anadys Pharmaceuticals stockholders. A potential securities class action lawsuit would seek to maximize the amount of money and information NASDAQ:ANDS shareholders would receive in a buyout, so the law firm.