WILMINGTON, Del., Jan. 12, 2015 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of NPS Pharmaceuticals Inc. ("NPS" or the "Company") relating to the sale of the Company to Shire plc ("Shire"). On January 11, 2015, the two companies announced the signing of a definitive merger agreement pursuant to which Shire will acquire NPS in a merger via a tender offer worth $5.2 billion. As a result of the merger, NPS shareholders are only anticipated to receive $46.00 per share in cash in exchange for each share of NPS.
Andrews & Springer's investigation has so far uncovered that the consideration NPS shareholders are expected to receive is inadequate. While the Company claims that shareholders will receive a premium for their shares, analysts at Yahoo! Finance have set a $48.00 per share price target for NPS, which is $2.00 more than what NPS shareholders are expected to receive.
Andrews & Springer is also investigating whether NPS directors are breaching their fiduciary duties by failing to adequately shop the company and maximize shareholder value. Additionally, our firm is also investigating the Company's financial advisors, Goldman, Sachs & Co. ("Goldman Sachs") and Leerink Partners LLC ("Leerink"), and whether Goldman Sachs and Leerink conducted a fair sales process.
If you own shares of NPS and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/NPSP or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.