An investigation on behalf of investors of Viropharma Inc (NASDAQ:VPHM) in connection with the proposed takeover was announced and NASDAQ:VPHM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/12/2013 -- An investigation on behalf of investors, who currently hold shares of Viropharma Inc (NASDAQ:VPHM) shares, was announced concerning whether the takeover of Viropharma Inc by Shire plc for $50.00 per share is unfair to NASDAQ:VPHM stockholders.
Investors who purchased shares of Viropharma Inc (NASDAQ:VPHM) and currently hold any of those NASDAQ:VPHM shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Viropharma Inc breached their fiduciary duties owed to NASDAQ:VPHM investors in connection with the proposed acquisition.
On November 11, 2013, Shire plc (LSE: SHP, NASDAQ: SHPG) and Viropharma Inc (NASDAQ:VPHM) announced that their Boards of Directors have unanimously approved, and the companies have entered into, a merger agreement pursuant to which Shire will acquire all the outstanding shares of the rare disease company Viropharma Inc for $50 per share in cash, for a total consideration of approximately $4.2 billion.
However, the investigation concerns whether the $50-offer is unfair to NASDAQ:VPHM stockholders. More specifically, the investigation concerns whether the Viropharma 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.
Shares of Viropharma Inc (NASDAQ:VPHM) grew from $4.08 per share in March 2009 to as high as $40.80 per share on October 4, 2013.
On November 11, 2013, NASDAQ VPHM shares closed at $49.42 per share.
Those who are current investors in Viropharma Inc shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com