February 11, 2014 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Cadence Pharmaceuticals, Inc. (NASDAQ:CADX) shares, was announced concerning whether the takeover of Cadence Pharmaceuticals, Inc. by Mallinckrodt plc for $14.00 per share is unfair to NASDAQ:CADX stockholders.

The investigation by a law firm concerns whether certain officers and directors of Cadence Pharmaceuticals, Inc. breached their fiduciary duties owed to NASDAQ:CADX investors in connection with the proposed acquisition.

On February 11, 2014, Mallinckrodt plc (NYSE: MNK) and Cadence Pharmaceuticals, Inc. (NASDAQ:CADX) announced that they have entered into an agreement under which a subsidiary of Mallinckrodt plc will commence a tender offer to acquire all outstanding shares of Cadence Pharmaceuticals, Inc. for $14.00 per share in cash or approximately$1.3 billion on a fully diluted basis, which represents a 32% premium to the trailing 30-trading-day volume weighted average price (VWAP) of $10.62per share for Cadence Pharmaceuticals, Inc.

However, given that at least one analyst has set the high target price for NASDAQ:CADX shares at $15.00 per share, the investigation concerns whether the $14-offer is unfair to NASDAQ:CADX stockholders. More specifically, the investigation concerns whether the Cadence Pharmaceuticals 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.

Cadence Pharmaceuticals, Inc. reported that its annual Total Revenue rose from $16.70 million in 2011 to $50.18 million in 2012 and that its

Shares of Cadence Pharmaceuticals, Inc. (NASDAQ:CADX) closed at $14.00 per share.