Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers
Taylor LLP are investigating potential claims against the Board of
Directors of Furiex Pharmaceuticals, Inc. (“Furiex”) (NasdaqGS: FURX)
related to the acquisition of FURX by Forest Laboratories, Inc. Under
the terms of the transaction, which is currently valued at approximately
$1.1 billion, Furiex shareholders will only receive $95 per share owned.
Depending on the FDA status of eluxadoline, Furiex’s treatment for
irritable bowel syndrome, shareholders could also receive up to an
additional $30 per share (approximately $360 million in aggregate) in a
Contingent Value Right. The terms of the transaction are well below at
least one analyst’s estimated value of $140.00 per share.
If you are an affected investor, and you want to learn more about the
lawsuit or join the action, contact Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com,
or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via
e-mail at shareholder@powerstaylor.com.
There is no cost or fee to you.
The Furiex investigation centers on whether the Board of Directors of
Furiex is acting in the shareholders’ best interests, whether the board
is properly considering the proposed price for the shareholders, and
whether the board has employed an adequate process to review and act on
the proposed transaction. Notably, at least one analyst with Yahoo!
Finance estimates that the true inherent value of Furiex could be as
high as $140 per share.
The
Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Powers
Taylor LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
Copyright Business Wire 2014