Passes v. Micromet/Amgen


02/27/12 – 02/27/12


In this pharmaceutical Mergers and acquisition hearing, Plaintiff shareholder Bernard Passes alleged Micromet Inc. of failing in its duty to get the best price for its shareholder by agreeing to Amgen Inc’s offer of acquiring the company at $11 a share. The plaintiff’s counsels argued to block the proposed deal between Micromet Inc. and Amgen Inc. in which Amgen was acquiring Micromet in order to gain control over the experimental Lukemia drug. The plaintiff’s counsels claimed that given Micromet’s growth prospect and potential future earnings, the price of $11 per share was too low.

The plaintiff was represented by attorney Jason Leviton. The defense in this case comprised of Amgen Inc and Micromet Inc. Amgen Inc. was represented by attorney Robert Sacks. Micromet Inc. was represented by attorney Koji Fukumura.

Recording Disclaimer: This proceeding was recorded in full.

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