Block & Leviton LLP Investigates ISTA Pharmaceuticals, Inc.'s Board of Directors for Possible Breaches of Fiduciary Duty

BOSTON, March 26, 2012 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duties by the Board of Directors of ISTA Pharmaceuticals, Inc. (“ISTA” or the “Company”) (NASDAQ: ISTA) concerning the proposed acquisition of the Company by Bausch & Lomb for $9.10 per share in cash, or approximately $500 million.

Block & Leviton’s investigation seeks to determine, among other things, whether ISTA’s Directors breached their fiduciary duties by failing to maximize shareholder value in the proposed transaction. Bausch & Lomb’s offer is a mere 10% premium to the Company’s share price on March 23, 2012, the last trading day before the merger was announced.

If you have any information relevant to this investigation, or have questions about your legal rights, please contact Mark Alan Delaney of Block & Leviton LLP at (617) 398-5650 or email him at Mark@blockesq.com.

Block & Leviton is a Boston-based law firm representing investors for violations of securities laws. The firm’s lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.

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SOURCE Block & Leviton LLP