SHAREHOLDER ALERT: Brower Piven Announces Class Action Lawsuit in Connection with the Sale of Furiex Pharmaceuticals, Inc. to...
22 Maio 2014 - 4:39PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the Delaware Chancery Court on behalf of all
common stockholders of Furiex Pharmaceuticals, Inc. (“Furiex” or
the “Company”) (NasdaqGS: FURX) asserting claims that the members
of the Company’s board of directors have breached fiduciary duties
they owe to Furiex shareholders.
The complaint alleges that on April 28, 2014, the Company’s
board of directors caused Furiex to enter into a definitive
agreement and plan of merger, pursuant to which Forest
Laboratories, Inc. (“Forest”) and Royal Empress, Inc. (“Royal
Empress”) will acquire all of the outstanding shares of Furiex
common stock for approximately $95.00 per share in cash plus the
right to receive up to $30.00 per share in a contingent value
right. The claims asserted in the lawsuit concern whether the
Company’s Board of Directors breached their fiduciary duties to
stockholders by failing to maximize shareholder value before
agreeing to enter into this transaction, and whether Forest and
Royal Empress are underpaying for Furiex shares.
The Complaint also alleges that by agreeing to certain deal
protection devices in the merger agreement, the individual
defendants have locked up the proposed transaction and have
precluded other bidders from making successful competing offers for
the Company.
If you currently own common stock of Furiex and would like to
learn more about this lawsuit and your ability to participate as a
plaintiff, without cost or obligation to you, click here:
http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Attorneys at Brower Piven together have more than a
century of experience litigating securities and other class action
cases.
Brower Piven, A Professional CorporationCharles J. Piven1925 Old
Valley RoadStevenson, Maryland 21153Telephone:
410-415-6616hoffman@browerpiven.com
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