Stull, Stull & Brody Announces Investigation on Behalf of Shareholders of OSI Pharmaceuticals, Inc.

NEW YORK--(BUSINESS WIRE)--Mar 1, 2010 - Attorney Advertising. Notice is hereby given that Stull, Stull & Brody has commenced an investigation on behalf of shareholders of OSI Pharmaceuticals, Inc. (“OSI” or the “Company”) (Nasdaq: OSIP) for possible breaches of fiduciary duty and other violations of state law by the Company's Board of Directors (the “Board”) in connection with attempt by Astellas Pharma, Inc. (“Astellas”) to acquire all of OSI's outstanding shares for $52 in cash per share.

The current investigation concerns the price to be paid by Astellas to OSI shareholders and the process by which the Board is addressing the transaction. The OSI Board has stated that it will review the offer. The OSI Board previously rejected a takeover proposal from Astellas for $52 per share, stating that the proposal significantly undervalues OSI.

If you own the common stock of OSI and wish to obtain additional information about this matter, please contact Aaron Brody, Esq. at Stull, Stull & Brody by calling 1-800-337-4983 or 1-212-687-7230, or by email to ssbny@aol.com or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. Stull, Stull & Brody has litigated many class actions for violations of securities laws and breaches of fiduciary duty on behalf of defrauded investors over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody has offices in New York and Los Angeles. Additional information about Stull, Stull & Brody can be found at the firm's website at www.ssbny.com.

Attorney advertising. Prior results do not guarantee a similar outcome.

 

Contact: Stull, Stull & Brody
Aaron Brody, Esq.
1-800-337-4983 or 1-212-687-7230
ssbny@aol.com

 

 

Posted: March 2010


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