Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of Onyx Pharmaceuticals, Inc. Over the Proposed Sa...

Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Onyx Pharmaceuticals (“Onyx” or the “Company”) (NasdaqGS:ONXX) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Amgen Inc. (NasdaqGS:AMGN) in a deal valued at $10.4 billion. Under the terms of the proposed transaction, Onyx’s stockholders will receive $125 in cash for each share of Onyx common stock they own, while according to Yahoo! Finance, there has been at least one financial analyst that set a price target of $160.00 for Onyx.

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The investigation focuses on whether Onyx’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Onyx’s shareholders.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.

If you own common stock in Onyx and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/ONXX or contact Juan E. Monteverde, Esq. either via e-mail at [e-mail] or by telephone at [phone] or [phone].

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