SAN DIEGO, May 23, 2016 /PRNewswire/ -- Shareholder rights law
firm Johnson & Weaver, LLP has launched an investigation into whether the board members of XenoPort (NASDAQ: XNPT) breached
their fiduciary duties in connection with the proposed sale of the Company to Arbor Pharmaceuticals, LLC.
Additional Information:
XenoPort is a biopharmaceutical company, focusing on developing and commercializing a portfolio of product candidates for the
treatment of neurological and other disorders.
On May 23, 2016, XenoPort announced it had signed a definitive merger agreement with Arbor
Pharmaceuticals. Under the terms of the agreement, XenoPort stockholders will receive $ 7.03 per
share in cash.
The investigation concerns whether the XenoPort board failed to satisfy their duties to the Company shareholders, including
whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for
XenoPort shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price
represents adequate consideration; especially given that the price target for one Wall Street analyst is $10.00. The 52 week high for XenoPort stock is $7.86.
If you are a shareholder of XenoPort and believe the proposed buyout price is too low or you're interested in learning more
about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker
(jimb@johnsonandweaver.com) at 619-814-4471. If
emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm
represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP