Par Pharmaceutical Companies, Inc PRX Securities Lawsuit

Company:	Par Pharmaceutical Companies, Inc
Ticker Symbol:	PRX
Class Period:	Aug-2-12 to Aug-16-12
Date Filed:	Aug-15-12
Lead Plaintiff Deadline:	Oct-14-12
Court:	District of New Jersey
Allegations:

New York, NY: A securities class action has been commenced in the United States District Court for the District of New Jersey on behalf of all persons who held shares of the common stock of Par Pharmaceutical Companies, Inc. ("Par Pharma") (NYSE:PRX) as of August 2, 2012, against TPG Capital, L.P., Sky Growth Holding Corporation, and Sky Growth Acquisition Corporation (collectively, "TPG"), and Par Pharma and its Board of Directors (the "Board") for violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "1934 Act") in connection with the proposed sale of Par Pharma to TPG, pursuant to which Par Pharma shareholders will receive $50.00 in cash for each share of common stock they own.

The complaint charges Par Pharma and its Board and TPG with violations of the 1934 Act. Par Pharma is a U.S.-based specialty pharmaceutical company that develops, manufactures and markets high-barrier-to-entry generic drugs and niche, innovative proprietary pharmaceuticals.

The complaint alleges that defendants failed to disclose material information in a proxy statement filed with the SEC and publicly disseminated in connection with the proposed sale of Par Pharma to TPG. According to the complaint, the proxy statement was materially false and misleading because it made numerous material omissions about the process leading up to the agreement between Par Pharma and TPG and the work performed by Par Pharma' financial advisor, J.P. Morgan Securities LLC, which was retained by Par Pharma to evaluate the fairness of TPG' offer.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Par Pharmaceutical Companies, Inc PRX Securities Fraud Legal Help

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Published on Aug-16-12