Rigrodsky & Long, P.A. Investigates CPEX Pharmaceuticals, Inc. Buyout

  • Do you own CPEX Pharmaceuticals, Inc. common stock?
  • Did you purchase your shares prior to January 4, 2011?
  • Do you feel the buyout is unfair?
  • Do you want to discuss your rights?

If the answer to these questions is "yes," please contact the deal lawyers at Rigrodsky & Long, P.A. ("R & L") today to schedule a FREE consultation. Just call us, or fill out our contact form so that we can call at your convenience. Your consultation will not create any obligation to use our services at any time.

Contact R & L today to be sure your best interests are being protected.

R & L is national law firm with decades of combined legal experience. R & L is investigating potential claims against the board of directors of CPEX Pharmaceuticals, Inc. concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Footstar, Inc. in a transaction valued at approximately $76.6 million.

Click here to read the full press release.

Rigrodsky & Long, P.A. Investigates CPEX Pharmaceuticals, Inc. Buyout

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of CPEX Pharmaceuticals, Inc. (“CPEX” or the “Company”) (Nasdaq: CPEX) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Footstar, Inc. (“Footstar”) in a transaction valued at approximately $76.6 million.

Under the proposed agreement, Footstar will acquire all of the outstanding common shares of CPEX for $27.25 per share in cash.

The investigation concerns whether CPEX’s board of directors failed to adequately shop the Company and obtain the best price possible for CPEX’s shareholders before entering into the agreement with Footstar. Additionally, certain of CPEX’s directors and employees, who currently own an aggregate of approximately 19.6% of the outstanding CPEX shares, have agreed to vote their shares in favor of the transaction and recommend that all CPEX shareholders approve the transaction.

If you own the common stock of CPEX and purchased your shares before January 4, 2011, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising. Prior results do not guarantee a similar outcome.

R & L, with offices in Delaware and New York, litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

Learn more about R&L:  Visit Our Website |  Our Firm  |  Our Practice Areas  |  FAQ's

Fill out the form below or call us toll-free at 888-969-4242, for a FREE no-obligation consultation.