NEW YORK, May 23, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of XenoPort, Inc. ("XenoPort" or the "Company") (NASDAQ: XNPT) concerning the proposed acquisition of the Company by Arbor Pharmaceuticals, LLC ("Arbor").
Under the terms of the offer, Arbor would acquire XenoPort in a transaction valued at approximately $460 million. Pursuant to the deal, XenoPort stockholders will receive $7.03 in cash per share. According to Yahoo Finance, at least one analyst has set a target price for XenoPort stock of $10.00 per share.
Our investigation concerns whether the XenoPort board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company stockholders.
If you own XenoPort shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Benjamin I. Sachs-Michaels, Esq.
Robert I. Harwood, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
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Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP