Faruqi & Faruqi, LLP Announces Investigation Related to the Acquisition of Penwest Pharmaceuticals Co. - PPCO
August 12 2010 - 10:26AM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of Penwest Pharmaceuticals Co. (“Penwest” or the
“Company”) (NasdaqGM: PPCO) for potential breaches of fiduciary
duty in connection with their conduct related to the sale of the
Company to Endo Pharmaceuticals Holdings Inc. (NasdaqGS: ENDP). The
proposed transaction offers Penwest shareholders to only receive
$5.00 in cash for each share they own.
Whether the Penwest Board of Directors breached their fiduciary
duties to Penwest stockholders by failing to conduct an adequate
and fair sales process to sell the Company prior to agreeing to
this proposed transaction, whether the proposed transaction
undervalues Penwest shares and by how much this proposed
transaction undervalues the Company to the detriment of Penwest
shareholders are the key focus of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm is
focused on providing exemplary legal services in complex litigation
in the areas of securities, shareholder, antitrust and consumer
litigation, through all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients.
If you own common stock in Penwest and wish to obtain additional
information, please visit us at http://www.faruqilaw.com/penwest or
contact David H. Leventhal, Esq. either via e-mail at
dleventhal@faruqilaw.com or by telephone at (877) 247-4292 or (212)
983-9330.
Attorney Advertising. (C) 2010 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
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