WASHINGTON--(BUSINESS WIRE)-- Levetown & Jenkins, LLP is conducting an investigation into alleged breaches of fiduciary duties and violations of state law by King Pharmaceuticals, Inc. (“King”) (NYSE: KG) and its Board of Directors in conjunction with the proposed buyout and acquisition of King by Pfizer, Inc. (NYSE: PFE). Under the terms of a merger agreement announced on October 12, 2010, King shareholders will receive $14.25 in cash for each share of King common stock they hold. The transaction is valued at approximately $3.6 billion.
The firm’s investigation concerns whether the proposed acquisition properly values King. Specifically, the investigation seeks to determine whether the King Board of Directors engaged in a fair process to obtain adequate consideration for all of the company's shareholders, whether the transaction undervalues the company to the detriment of its shareholders and, if so, the extent to which the company is undervalued in the proposed transaction.
Levetown & Jenkins, LLP is a national law firm comprised of former federal and state prosecutors with extensive experience in the investigation and prosecution of shareholder fraud. The firm specializes in the representation of investors in shareholder and securities fraud class actions. If you currently own shares of King and wish to obtain additional information about your rights as a shareholder, please contact Michael T. Harrison, Esq. at 713-392-7465 or [email protected]. For more information about the firm, please visit www.levjen.com.
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