The Law Office of Vincent Wong Announces Investigation of Possible Breach of Fiduciary Duty by the Board of Penwest Pharmaceu...
11 Agosto 2010 - 3:22PM
Business Wire
The Law Office of Vincent Wong is investigating the Board of
Directors of Penwest Pharmaceuticals Co. (NasdaqGM: PPCO) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Endo
Pharmaceuticals Holdings Inc. (NasdaqGS: ENDP). Under the terms of
the deal, Penwest shareholders will receive $5.00 in cash per share
for a total transaction value of approximately $168 million.
The investigation concerns whether the Penwest Board of
Directors breached their fiduciary duties to Penwest stockholders
by failing to adequately shop the Company before entering into this
transaction and whether Endo is underpaying for Penwest shares.
If you own common stock in Penwest and wish to obtain additional
information about this investigation and what is being done to
advance the shareholders’ interests, please contact Vincent Wong,
Esq. directly, via email at vw@wongesq.com, by telephone at
212.584.2740, or visit
http://www.wongesq.com/penwest-ppco.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights.
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