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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Inspir

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^{Published in Health and Fitness on Tuesday, April 5th 2011 at 10:50 GMT by Market Wire}  

NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of Inspire Pharmaceuticals, Inc. (aInspirea or the aCompanya) (Nasdaq: ISPH) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Merck (NYSE: MRK). Under the terms of the transaction, Inspire shareholders will receive $5.00 in cash per share of Inspire outstanding stock they own. The transaction has a total value of approximately $430 million.

Click here to learn how to join the action: [ http://www.zlk.com/inspire-pharmaceuticals-isph.html ], or call: 877-363-5972.

The investigation concerns whether the Inspire Board of Directors breached their fiduciary duties to Inspire stockholders by failing to adequately shop the Company before entering into this transaction and whether Merck is underpaying for Inspire shares, thus unlawfully harming Inspire stockholders. In particular, the mean price target set by five analysts for Inspire stock is $5.95 per share and at least one analyst set a price target of $10.00 per share.

If you own common stock in Inspire 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/inspire-pharmaceuticals-isph.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.