A lawsuit was filed by investor in shares of NPS Pharmaceuticals, Inc. (NASDAQ:NPSP) in effort to stop the proposed takeover and NASDAQ:NPSP stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/02/2015 -- An investor, who currently holds shares of NPS Pharmaceuticals, Inc. (NASDAQ:NPSP), filed a lawsuit in effort to halt the proposed takeover of NPS Pharmaceuticals, Inc. by Shire plc for $46.00 per share.
Investors who purchased shares of NPS Pharmaceuticals, Inc. (NASDAQ:NPSP) and currently hold any of those NASDAQ:NPSP shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:NPSP stockholders by agreeing to sell NPS Pharmaceuticals, Inc. too cheaply via an unfair process to Shire plc
On January 11, 2015, Shire plc (LSE: SHP, NASDAQ: SHPG) and NPS Pharmaceuticals, Inc. (NASDAQ:NPSP) announced that the companies have entered into a merger agreement pursuant to which Shire will acquire all the outstanding shares of NPS Pharma for $46.00 per share in cash, for a total consideration of approximately $5.2 billion.
However, the plaintiff claims that the $46-offer is too low and undervalues NPS Pharmaceuticals, Inc. Indeed, at least one analyst has set the target price for NASDAQ:NPSP shares at $48 per share. Furthermore, NPS Pharmaceuticals, Inc. reported that its annual Total Revenue increased from $101.64 million in 2011 to $155.59 million in 2013 and that its respective Net Loss declined from $36.27 million to $13.50 million. Shares of NPS Pharmaceuticals, Inc. (NASDAQ:NPSP) grew from $7.93 per share in March 2013 to as high as $39.06 per share in February 2014.
In addition, the plaintiff claims that the process is also unfair to NASDAQ:NPSP stockholders.
On January 29, 2015, NASADQ:NPSP shares closed at $45.91 per share.
Those who are current investors in NPS Pharmaceuticals, Inc. (NASDAQ:NPSP) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com