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Abraxis Bioscience, Inc. Investors File Lawsuit Against Celgene Takeover

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Lawsuit Overview

Within 24 hours after Celgene announced its offer to buy Abraxis Bioscience, Inc for $2.9billion an investor filed a lawsuit in the California Court on behalf of current investors Abraxis Bioscience, Inc. (NASDAQ:ABII) alleging breaches of fiduciary duty by certain members of the Abraxis Bioscience board of directors for selling Abraxis Bioscience too cheaply to Celgene Corp. Abraxis...

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