NEW YORK--(BUSINESS WIRE)--Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Xenoport, Inc. (“Xenoport” or the “Company”) (NASDAQ:XNPT) for potential breaches of fiduciary duties in connection with the sale of the Company to Arbor Pharmaceuticals, LLC for approximately $467 million.
The Company’s stockholders will only receive $7.03 in cash for each share of Company common stock they own. However, this consideration is below at least one analyst’s price target of $10.00 per share and Xenoport’s 52-week high of $7.86 per share.
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The investigation focuses on whether Xenoport’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Xenoport’s shareholders.
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If you own common stock in Xenoport and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/XNPT or contact Juan Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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