CORAL GABLES, Fla., Sept. 21, 2011 (GLOBE NEWSWIRE) -- Catalyst Pharmaceutical Partners, Inc. (Nasdaq:CPRX) ("Company") today announced that its Board of Directors has adopted a Stockholder Rights Plan (the "Plan"). The Plan is designed to provide adequate time for the Board of Directors and the stockholders to assess an unsolicited takeover bid for the Company, to provide the Board of Directors with sufficient time to explore and develop alternatives for maximizing shareholder value if a takeover bid is made, and to provide stockholders with an equal opportunity to participate in a takeover bid and receive full and fair value for their common shares. The Company is not adopting the Plan in response to any specific proposal to acquire control of the Company, nor is it presently aware of any such effort.
