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Bull & Lifshitz, LLP Announces Investigation of the Acquisition of CPEX Pharmaceuticals, Inc.

2011-01-08 10:01 ET - News Release


NEW YORK -- (Business Wire)

Bull & Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed acquisition of CPEX Pharmaceuticals, Inc. (NASDAQ: CPEX) (referred to as "CPEX" or the “Company”) by Footstar, Inc. (“Footstar") in a cash transaction valued at approximately $76.6 million.

Under the terms of the agreement, FCB I Acquisition Corp. ("FCB Acquisition"), a wholly owned subsidiary of FCB I Holdings Inc. ("FCB Holdings"), will merge into CPEX and CPEX shareholders will receive $27.25 per share in cash. FCB Acquisition is a wholly owned subsidiary of FCB Holdings, which is owned 80.5% by Footstar Corporation and 19.5% by an unaffiliated investment holding company. Footstar Corporation is a wholly owned subsidiary of Footstar.

Bull & Lifshitz, LLP's investigation is focused on whether the proposed deal provides adequate value to the Company’s shareholders. If you are a holder of CPEX stock and want to discuss your legal rights, you may e-mail or call Bull & Lifshitz, LLP who will, without obligation or cost to you, attempt to answer your questions.

If you are a shareholder of CPEX and would like more information about our investigation, please contact Peter D. Bull, Esq. by telephone at (866) 313-6222 or by sending an e-mail including your contact information to: counsel@nyclasslaw.com. All e-mail correspondence should make reference to CPEX.

Bull & Lifshitz, LLP is a New York City-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please visit our website at www.nyclasslaw.com.

ATTORNEY ADVERTISING. © 2010 Bull & Lifshitz, LLP. The law firm responsible for this advertisement is Bull & Lifshitz, LLP, 18 East 41st Street, New York, New York 10017, (212) 213-6222. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contacts:

Bull & Lifshitz, LLP
Peter D. Bull, Esq., 212-213-6222
Fax: 212-213-9405
counsel@nyclasslaw.com

Source: Bull & Lifshitz, LLP

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