The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of Furiex Pharmaceuticals, Inc. Buyout Proposal
SMITHTOWN, NY, April 29, 2014:
The Law Office of Jack Stuart Beige & Associates, P.C. announces that it is investigating the Board of Directors of Furiex Pharmaceuticals, Inc. (“Furiex”) (NASDAQ GS: FURX) for possible breaches of fiduciary duties and other violations of law in connection with Furiex’s agreement to be acquired by Forest Laboratories, Inc. (“Forest”)(NYSE: FRX), in a transaction valued at approximately $1.1 billion.
Under the terms of the agreement, public shareholders of Furiex would receive $95.00 in cash, and up to $30.00 per share in a Contingent Value Right, for each share of Furiex they own.
The investigation concerns whether Furiex’s Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to Furiex’s stockholders would be fair and adequate, and whether Furiex is acting in its stockholders’ best interests.