NEW YORK, May 5, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Furiex Pharmaceuticals, Inc. ("Furiex" or "the Company") (Nasdaq:FURX) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to Forest Laboratories, Inc. ("Forest"). A complaint was filed in Delaware state court.
Click here to learn more about the investigation: http://zlk.9nl.com/furiex-pharmaceuticals-furx, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Furiex shareholders will receive $95.00 per share in cash for each share of Furiex stock they own. The transaction has a total approximate value of $1.1 billion. An additional $30.00 per share ($360 million in aggregate) may be payable to shareholders in a Contingent Value Right (CVR) based on the status of eluxodoline, Furiex's lead product, as a controlled drug following approval. The claims concern whether the Furiex Board of directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Forest is underpaying for Furiex shares.
If you own Furiex common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/furiex-pharmaceuticals-furx.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.