December 18, 2013 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of NuPathe Inc (NASDAQ:PATH) shares, was announced concerning whether the takeover of NuPathe Inc by Endo Health Solutions for $3.15 per share is unfair to NASDAQ:PATH stockholders.

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

On December 16, 2013, Endo Health Solutions (Nasdaq: ENDP) announced it has entered into a definitive agreement under which Endo Health Solutions will acquire NuPathe Inc (NASDAQ:PATH) for $2.85 per share in cash, or approximately $105 million. In addition to the upfront cash payment, NuPathe shareholders will receive rights to receive additional cash payments of up to $3.15 per share if specified net sales of NuPathes migraine treatment ZECUITY are achieved over time.

However, given that at least one analyst has set the high target price for NASDAQ:PATH at $8.00 per share and that NASDAQ:PATH shares traded in early 2013 as high as $3.81 per share, the investigation concerns whether the $3.15-offer is unfair to NASDAQ:PATH stockholders. More specifically, the investigation concerns whether the NuPathe 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.

On December 18, 2013, NASDAQ:PATH shares closed at $3.26 per share.