Facet Biotech Corporation Board of Directors Faces Shareholder Investigation

An analysis on account of accepted shareholders of Facet Biotech Corporation (Public, NASDAQ:FACT) over abeyant breaches of fiduciary assignment and added violations of accompaniment law by the axle of admiral in affiliation with the bounce of the Biogen Idec Inc proposal.

Those who are currently investors in shares of Facet Biotech Corporation (Public, NASDAQ:FACT), and / or accept added advice apropos to the investigation, should acquaintance the Shareholders Foundation, Inc. at email: mail(at)shareholdersfoundation.com or alarm us at: +1 (858) 779 - 1554. The analysis by a law close focus on abeyant breaches of fiduciary assignment and added violations of accompaniment law by the Board of Directors of Facet Biotech Corporation (Public, NASDAQ:FACT) arising out of their bounce of proposals by Biogen Idec Inc. to access Facet Biotech Corporation at a huge premium.

Facet Biotech Corporation (NASDAQ: FACT) appear that it is in cancellation of Biogen Idec Inc.'s (NASDAQ: BIIB) letter anachronous September 4, 2009 alms $14.50 per allotment for all of the outstanding shares of Facet and that Facet's axle of directors, in appointment with its banking and acknowledged advisors, ahead alone Biogen Idec's all-cash action of $15 per allotment as not in the best interests of stockholders.
But according to the analysis by a law close the action represents a 64% exceptional and Facet's Board of Directors, by their antecedent bounce of proposals by Biogen to access the Company for $15 per share, may accept breached their fiduciary duties, appropriately unlawfully afflicted Facet shareholders.

Facet Biotech Corporation, amid in Redwood, California, is a biotechnology company, that is affianced in anecdotic and developing oncology therapeutics. It has four antibodies in the berth for oncology and immunologic ache indications, of which two are in appearance II and two in appearance I. Facet Biotech Corporation appear in 2007 Total Revenue of $26.69million and in 2008 Total Revenue of $18.26million. Shares of Facet Biotech Corp (NASDAQ: FACT) traded afresh at $15.38 per allotment and were at about $6.30 per allotment in February and March 2009.