FURIEX INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Furiex Pharmaceuticals, Inc. (FURX) Over the Proposed Sale of the Company to Forest Laboratories, Inc.
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 Furiex Pharmaceuticals (“Furiex” or the “Company”) (FURX) for potential breaches of fiduciary duties in connection with the sale of the Company to Forest Laboratories, Inc. (NYSE: FRX) for approximately $1.1 billion in cash and up to $30 per share (approximately $360 million) in a Contingent Value Right (CVR) that may be payable based on the FDA status of eluxadoline. The Company’s stockholders are only guaranteed $95 for each share of Furiex common stock they own, while according to Thomson Research, at least one analyst has given a price target of $137 for the Company.
The investigation focuses on whether Furiex’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Furiex’s shareholders.
If you own common stock in Furiex and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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