MILWAUKEE, Sept. 29, 2014 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of Ambit for possible breaches of fiduciary duty and other violations of state law in connection with the sale of Ambit to Daiichi.
Click here to learn how to join the action: http://www.ademilaw.com/case/ambit or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ambit's long-term financial outlook is very positive and yet shareholders will receive only $15.00 per share. Daiichi is well aware of Ambit's improving financial metrics and is purchasing Ambit at a substantial discount. The merger agreement unreasonably limits prospective bids by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should Ambit receive and accept a superior bid. Ambit insiders and their affiliates own significant stock, and will receive millions of dollars as part of change of control arrangements. These insiders can unduly influence a sale of Ambit not necessarily in the best interests of non-insider shareholders. In light of these facts, our investigation centers on the conduct of Ambit's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Ambit given its current financial condition and prospects.
If you own shares of Ambit and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/ambit.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar