WILMINGTON, Del., April 28, 2014 /PRNewswire/ -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Furiex Pharmaceuticals, Inc. ("Furiex" or the "Company") (NASDAQ: FURX) relating to the sale of the Company to Forest Laboratories, Inc. (NYSE: FRX) (the "Forest Labs"). On April 28, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which Forest Labs will acquire Furiex in a merger valued at roughly $1.1 billion. Furiex shareholders could earn up to an additional $360 million pursuant to certain contingent value rights ("CVRs"). As a result of the merger, Furiex shareholders are only anticipated to receive $95 per share in cash for each share of Furiex.
Based on our investigation, the consideration that Furiex shareholders are expected to receive is significantly inadequate. Analysts at Yahoo! Finance have set a $140 per share price target for Furiex, which is approximately 47% more than what Furiex shareholders are expected to receive.
If you own shares of Furiex and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/furiex or contact Craig J. Springer, Esq. at [email protected], or call toll free at 1-800-423-6013. This notice may constitute attorney advertising.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud and breaches of fiduciary duty. Our Firm's practice model consists of retaining a small select group of high caliber attorneys who are committed to protecting shareholder rights and litigating cutting-edge issues affecting shareholder rights. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for our clients. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute.
SOURCE Andrews & Springer LLC