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If you purchased shares of XenoPort, Inc. (NASDAQ:XNPT) and currently hold any of those NASDAQ:XNPT shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
May 27, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of XenoPort, Inc. (NASDAQ:XNPT), was announced concerning whether the takeover of XenoPort, Inc. by Arbor Pharmaceuticals, LLC for $7.03 per share is unfair to NASDAQ:XNPT stockholders.
The investigation by a law firm concerns whether certain officers and directors of XenoPort, Inc. breached their fiduciary duties owed to NASDAQ:XNPT investors in connection with the proposed acquisition.
On May 23, 2016, Arbor Pharmaceuticals, LLC and XenoPort, Inc. (NASDAQ:XNPT) announced that they have signed an agreement under which Arbor will acquire XenoPort for $7.03 per share in cash, or a total equity value of approximately $467 million.
However, given that at least one analyst has set the high target price for NASDAQ:XNPT shares at $10.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:XNPT stockholders. More specifically, the investigation concerns whether the XenoPort 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 May 27, 2016, NASDAQ:XNPT shares closed at $7.04 per share.
