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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Array BioPharma Inc. (“Array BioPharma” or the “Company”) (NASDAQGM: ARRY) to Pfizer Inc. (“Pfizer”) (NYSE: PFE). Under the terms of the deal, shareholders of Array BioPharma will receive $48.00 in cash per share.
The Array BioPharma merger investigation concerns whether the Board of Array BioPharma breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Pfizer is underpaying for Array BioPharma shares, thus unlawfully harming Array BioPharma shareholders.
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