Exelixis, Inc. Investor Investigation over potential Takeover

PRLog (Press Release) - Apr. 25, 2011 - After a media report said that Exelixis, Inc. hired Goldman Sachs Group Inc to prepare for potential takeover offers an investigation on behalf of investors Exelixis, Inc. (NASDAQ:EXEL) monitoring a potential takeover in connection with possible breaches of fiduciary duties was announced.

If you are a current investor in Exelixis, Inc. (NASDAQ: EXEL) shares, and/or have any information relating the investigation, you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether Exelixis, Inc. and certain of its officers and directors or others will breach or breached their fiduciary duties owed to Exelixis, Inc. (NASDAQ:EXEL) investors in connection with a potential buyout or in the event of a takeover.

Shares of Exelixis, Inc. (NASDAQ EXEL) from as low as $2.40 in 2008 to $8 in 2009 and from as low as $2.88 in August 2010 to over $11 during March 2011.

Then on April 11, 2011 a media report cited unnamed people with knowledge of the matter that Exelixis hired Goldman Sachs to prepare for potential takeover offers after its experimental drug helped prostate-cancer patients in a study.

However, given that Exelixis, Inc. has performed well for its investors in the past, the investigation by a law firm questions whether a potential sale process and the potential price would be unfair to the shareholders of Exelixis, Inc. (NASDAQ:EXEL). Exelixis, Inc. 52weeks Total Revenue increased from $113.47million in 2007 to $185.04million in 2010.

The investigation focuses whether the Exelixis board of directors will undertake an adequate and fair sales process to obtain fair consideration for all shareholders of Exelixis, Inc. (NASDAQ:EXEL) and will breach their fiduciary duties to Exelixis (EXEL) shareholder by failing to adequately shop the Company before entering into any transaction. In addition the investigation seeks also to determine if any officer, director or any insiders violated any laws in connection with a potential takeover. The investigation concerns also whether the acquirer would underpay for NASDAQ EXEL shares, thus unlawfully harming Exelixis investors. A potential class action lawsuit would seek to maximize the amount of money and information Exelixis shareholders would receive in a buyout, so the law firm.

Those who are current investors in Exelixis, Inc. (Public, NASDAQ:EXEL) common shares, and/or have any information relating the investigation, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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The Shareholders Foundation, Inc. is a professional portfolio monitoring service and an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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