|[December 16, 2013]
Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of the NuPathe Inc. Proposed Sale to Endo Health Solutions
SAN DIEGO --(Business Wire)--
Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating
whether members of the board of directors of NuPathe Inc. (Nasdaq: PATH)
breached their fiduciary duties in connection with the planned sale of
the company to Endo Health Solutions (Nasdaq: ENDP).
On December 16, 2013, Endo Health announced a definitive agreement under
which Endo will acquire NuPathe Inc. Under the terms of this transaction
NuPathe shareholders will receive $2.85 per share in cash, or
approximately $105 million. In addition 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 a defined period of time.
The investigation concerns whether NuPathe's board failed to satisfy
their duties t the company's shareholders, including whether the board
adequately pursued alternatives to the acquisition and whether the board
obtained the best price possible for the Company's shares of common
stock. The investigation also concerns potential conflicts of interest
arising out of the NuPathe's management's interest in post-acquisition
employment or investment opportunities. The $2.85 per share acquisition
price including the upside additional cash payment to shareholder based
upon sales targets is well below one analyst's projection and far less
than where the stock has traded in the past.
If you are a shareholder NuPathe and would like additional information
concerning your legal rights, please contact lead analyst Jim Baker (firstname.lastname@example.org)
Johnson & Weaver, LLP is a nationally recognized shareholder rights law
firm with offices in California and New York. 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.
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