Health & Fitness
Health and Fitness
Health and Fitness
Thu, January 6, 2011
Wed, January 5, 2011
Tue, January 4, 2011
The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of CPEX P
NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of CPEX Pharmaceuticals, Inc. (aCPEXa or the aCompanya) (Nasdaq: CPEX) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Footstar Inc. Under the terms of the transaction, CPEX shareholders will receive $27.25 per share in cash for each outstanding share of CPEX stock they own for a total transaction value of approximately $76.6 million. Certain of CPEX's directors and employees, who currently own an aggregate of approximately 19.6% of the outstanding CPEX shares, have agreed to vote their shares in favor of the transaction.
Click here to learn how to join the action: [ http://www.zlk.com/cpex.html ], or call: 877-363-5972.
The investigation concerns whether the CPEX Board of Directors breached their fiduciary duties to CPEX stockholders by failing to adequately shop the Company before entering into this transaction and whether Footstar is underpaying for CPEX shares, thus unlawfully harming CPEX stockholders. In particular, CPEX stock traded as high as $29.47 per share as recently as June 15, 2010.
If you own common stock in CPEX 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://www.zlk.com/cpex.html ].
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
