Robbins Umeda LLP Announces an Investigation of Kensey Nash Corporation
03 Maio 2012 - 9:29PM
Business Wire
Shareholder rights firm Robbins Umeda LLP has commenced an
investigation into possible breaches of fiduciary duty and other
violations of the law by members of the board of directors of
Kensey Nash Corporation (NASDAQ: KNSY) in connection with their
efforts to sell the company to Royal DSM (NYSE Euronext: DSM KON).
Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Gregory E. Del
Gaizo at (800) 350-6003, info@robbinsumeda.com, or via the
shareholder information form on the firm's website.
On May 3, 2012, Kensey Nash announced that it had entered into a
definitive merger agreement to be acquired by Royal DSM. According
to the terms of the deal, Royal DSM will acquire all outstanding
shares of the company through a cash tender offer. Pursuant to the
agreement, Kensey Nash shareholders will receive $38.50 in cash for
each share of the company they own. The tender offer is expected to
be completed by June 30, 2012.
Robbins Umeda LLP's investigation focuses on whether Kensey
Nash's board is undertaking a fair process to obtain maximum value
and adequately compensate shareholders in light of the company's
positive recent financial results. Specifically, on May 3, 2012,
Kensey Nash reported strong operating results for the third quarter
of fiscal year 2012 that beat analyst expectations. The company
reported revenue of $22.2 million for the quarter, a 19% increase
over the $18.6 million in revenue reported during the same quarter
in the previous year. Additionally, the company reported that net
sales for the quarter were $16.1 million, a 33% increase over the
$12.1 million in net sales reported during the third quarter of
fiscal year 2011.
Given the company's impressive financial results, Robbins Umeda
LLP is examining the board's decision to sell Kensey Nash now
rather than allow shareholders to continue to participate in the
company's continued success and future growth prospects.
Robbins Umeda LLP attorneys highlight that Kensey Nash
shareholders have the option to file a class action lawsuit against
the company to secure the best possible price for the company's
shareholders and the disclosure of material information to
shareholders so they can vote on the transaction in an informed
manner.
Robbins Umeda LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits, and has helped its
clients realize more than $1 billion of value for themselves and
the companies in which they have invested. For more information,
please go to http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/kensey-nash-corporation/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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