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XenoPort, Inc.
(Name of Registrant as Specified In Its Charter)
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The following statement was issued by XenoPort, Inc. (the “Company”) on May 8, 2014 during the conference call regarding the Company’s first quarter financial results.
“Before I turn the call over to Ron, I would like to briefly discuss our upcoming Annual Meeting.
As you may know, Clinton Relational Opportunity Master Fund, which reportedly holds approximately 1.6% of XenoPort’s common stock, is seeking to replace three members of XenoPort’s Board with three of its own nominees and is also proposing to present ten additional stockholder proposals at the meeting. XenoPort’s Board of Directors believes that Clinton’s nominees add no experience or expertise that is not already represented on XenoPort’s Board or that is specifically relevant to XenoPort. In addition, the Board is concerned that if Clinton’s nominees are elected, they may pursue plans, including immediately discontinuing the commercialization of HORIZANT, which would be contrary to the interests of all XenoPort stockholders.
Additional details regarding this matter, as well as the Board’s recommendation that stockholders vote “FOR ALL” of XenoPort’s nominees on the WHITE proxy card and the Board’s recommendations with respect to the other proposals proposed to be voted on at the meeting, can be found in our definitive proxy statement filed with the SEC. We will not be commenting further on the Clinton proposals or our annual meeting, and ask that you please keep your questions at the end of the call focused on our Q1 results.”