An investigation on behalf of investors of NuPathe Inc (NASDAQ:PATH) in connection with the proposed takeover was announced and NASDAQ:PATH stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/19/2013 -- An investigation on behalf of investors, who currently hold shares of NuPathe Inc (NASDAQ:PATH) shares, was announced concerning whether the takeover of NuPathe Inc by
Endo Health Solutions for $3.15 per share is unfair to NASDAQ:PATH stockholders.
Investors who purchased shares of NuPathe Inc and currently hold any of those NASDAQ:PATH shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of NuPathe Inc breached their fiduciary duties owed to NASDAQ:PATH investors in connection with the proposed acquisition.
On December 16, 2013, Endo Health Solutions announced it has entered into a definitive agreement under which Endo Health Solutions will acquire NuPathe Inc for $2.85 per share in cash, or approximately $105 million. In addition to the upfront cash payment, NuPathe shareholders will receive rights to receive additional cash payments of up to $3.15 per share if specified net sales of NuPathe’s migraine treatment ZECUITY are achieved over time.
However, given that at least one analyst has set the high target price for NASDAQ:PATH at $8.00 per share and that NASDAQ:PATH shares traded in early 2013 as high as $3.81 per share, the investigation concerns whether the $3.15-offer is unfair to NASDAQ:PATH stockholders. More specifically, the investigation concerns whether the NuPathe 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 December 18, 2013, NASDAQ:PATH shares closed at $3.26 per share.
Those who are current investors in NuPathe Inc shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego