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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