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Article: Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Sepracor, Inc.
- Article from:
- Biotech Week
- Article date:
- September 30, 2009
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Law Offices of Howard G. Smith announces that a stockholder class action lawsuit has been filed in the Court of Chancery for the State of Delaware on behalf of all public stockholders who own shares of Sepracor, Inc. ("Sepracor" or the "Company") (Nasdaq:SEPR) (see also Law Offices of Howard G. Smith).
The Complaint alleges, among other things, that Sepracor and certain of the Company's directors breached their fiduciary duties to Sepracor stockholders by agreeing to sell the Company to Dainippon Sumitomo Pharma Co., Ltd. ("Dainippon") at an inadequate and unfair price following a grossly unfair process. On September 3, 2009, Sepracor announced that it and ...