CEPHALON : Briscoe Law Firm Investigates Cephalon, Inc. for Shareholders Concerning Acquisition by Teva Pharmaceutical Industries Ltd.

The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of Cephalon, Inc. ("Cephalon" or "CEPH") (NASDAQ: CEPH) related to the buyout of Cephalon by Teva Pharmaceutical Industries Ltd.

The definitive merger agreement, which was announced on May 2, 2011, involves an all-cash transaction valued at approximately $6.8 billion. Under the proposed buyout, Cephalon shareholders will receive only $81.50 in cash for each share of Cephalon/CEPH common stock they hold, while one analyst has placed a $92 price-per-share target for Cephalon stock.

The firms are investigating the fairness of the proposed transaction to Cephalon shareholders and whether Cephalon's Board of Directors acted in the shareholders' best interests. Particularly, the firms are investigating whether the Board failed to adequately shop the Company around to obtain the best price for the shareholders. In addition, the firms are also investigating whether Cephalon's Board of Directors adequately considered all viable alternatives before entering into the agreement. Based on these and other factors, the firms are concerned whether the acquisition price is fair to Cephalon shareholders.

If you currently own shares of Cephalon/CEPH and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free [phone], via e-mail at [e-mail], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free [phone], or via email at [e-mail]. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters nationwide, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

Powers Taylor, LLP
Patrick Powers, [phone]
[e-mail]
or
The Briscoe Law Firm, PLLC
Willie Briscoe, [phone]
[e-mail]