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 cspringer@andrewsspringer.com, 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.
CONTACT:
Craig Springer
1-302-504-4957
cspringer@andrewsspringer.com
SOURCE Andrews & Springer LLC