The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of Inspire Ph...
April 08 2011 - 10:06AM
Business Wire
The Law Offices of Vincent Wong are investigating the Board of
Directors of Inspire Pharmaceuticals, Inc. (Nasdaq: ISPH) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Merck (NYSE:
MRK). Under the terms of the deal, Inspire shareholders will
receive $5.00 in cash per share of Inspire stock. The transaction
has a total value of approximately $430 million.
The investigation concerns whether the Inspire Board of
Directors breached their fiduciary duties to Inspire stockholders
by failing to adequately shop the Company before entering into this
transaction and whether Merck is underpaying for Inspire shares.
According to Thomson/First Call, at least one analyst set a price
target of $10.00 for Inspire shares.
If you own common stock in Inspire and wish to obtain additional
information, please contact Vincent Wong, Esq. either via email
vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/inspire-pharmaceuticals.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights. Attorney advertising.
Prior results do not guarantee similar outcomes.
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