Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating potential claims against the Board of Directors of Furiex Pharmaceuticals, Inc. (“Furiex”) (NasdaqGS: FURX) related to the acquisition of FURX by Forest Laboratories, Inc. Under the terms of the transaction, which is currently valued at approximately $1.1 billion, Furiex shareholders will only receive $95 per share owned. Depending on the FDA status of eluxadoline, Furiex’s treatment for irritable bowel syndrome, shareholders could also receive up to an additional $30 per share (approximately $360 million in aggregate) in a Contingent Value Right. The terms of the transaction are well below at least one analyst’s estimated value of $140.00 per share.

If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via e-mail at shareholder@powerstaylor.com. There is no cost or fee to you.

The Furiex investigation centers on whether the Board of Directors of Furiex is acting in the shareholders’ best interests, whether the board is properly considering the proposed price for the shareholders, and whether the board has employed an adequate process to review and act on the proposed transaction. Notably, at least one analyst with Yahoo! Finance estimates that the true inherent value of Furiex could be as high as $140 per share.

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

Copyright Business Wire 2010