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Briscoe Law Firm Investigates CPEX Pharmaceuticals, Inc. for Shareholders Concerning the Acquisition by Footstar, Inc.

^{Published on 2011-01-04 12:35:21 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of [ Powers Taylor LLP ] are investigating the proposed acquisition of CPEX Pharmaceuticals, Inc. (aCPEXa) (NASDAQ: CPEX) by Footstar Corporation, a wholly owned subsidiary of Footstar, Inc. The investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of CPEX for approving this transaction, whether CPEXa™s Board of Directors acted in the shareholdersa™ best interests, and whether the transaction provides fair value and adequate disclosures to the shareholders.

The definitive merger agreement, which was announced on January 4, 2011, involves a transaction valued at approximately $76.6 million in which CPEX shareholders will receive only $27.25 in cash for each share of CPEX common stock held.

If you currently own shares of CPEX and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder derivative suits, and security class actions.