San Diego, CA -- (SBWire) -- 06/01/2016 --The takeover of XenoPort, Inc. is under investigation over potential wrongdoing. The investigation was announced on behalf of investors, who currently hold NASDAQ:XNPT shares, concerning whether the takeover of XenoPort, Inc. by Arbor Pharmaceuticals, LLC for $7.03 per share is unfair.
Investors who purchased shares of XenoPort, Inc. (NASDAQ:XNPT) and currently hold any of those NASDAQ:XNPT shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of XenoPort, Inc. breached their fiduciary duties owed to NASDAQ:XNPT investors in connection with the proposed acquisition.
On May 23, 2016, Arbor Pharmaceuticals, LLC and XenoPort, Inc. announced that they have signed an agreement under which Arbor will acquire XenoPort for $7.03 per share in cash, or a total equity value of approximately $467 million.
However, given that at least one analyst has set the high target price for NASDAQ:XNPT shares at $10.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:XNPT stockholders. More specifically, the investigation concerns whether the XenoPort Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On May 27, 2016, NASDAQ:XNPT shares closed at $7.04 per share.
Those who are current investors in XenoPort, Inc. shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Takeover of XenoPort, Inc. (NASDAQ:XNPT) Under Investigation for Investors Concerning Potential Wrongdoing
An investigation on behalf of investors of XenoPort, Inc. (NASDAQ:XNPT) in connection with the proposed takeover was announced and NASDAQ:XNPT stockholders should contact the Shareholders Foundation.