We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Opiant Pharmaceuticals, Inc. (“Opiant” or the “Company”) (NASDAQ: OPNT), in connection with its takeover by Indivior PLC.  Under the terms of the merger agreement, shareholders will receive $20.00 cash for each Opiant share, plus up to $8.00 per share in contingent value rights (“CVRs”) if revenue milestones are achieved by Opiant's lead asset (OPNT003) in the seven years after the U.S. commercial launch of OPNT003.

Weiss Law is investigating whether (i) Opiant’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the $20.00 per-share merger consideration and CVR adequately compensates Opiant’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.  Notably, the merger consideration is below the $41 median price target set by analysts, and at least one analyst set a price target for the Company of $42 per share, $22.00 above the per-share merger consideration.