The Law Office of Abe Shainberg Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Matrix...
15 Dezembro 2010 - 4:25PM
Business Wire
The Law Office of Abe Shainberg is investigating the Board of
Directors of Matrixx Initiatives (“Matrixx” or the “Company”)
(NASDAQ:MTXX) for possible breaches of fiduciary duty and other
violations of state law in connection with the proposal from H.I.G.
Capital, LLC. (“H.I.G.”) to acquire all outstanding shares of
Matrixx. Under the terms of the proposed transaction, Matrixx
shareholders will receive $8.00 per share in cash for a total
transaction value of approximately $75.2 million.
The investigation concerns whether the Matrixx Board of
Directors breached their fiduciary duties to Matrixx stockholders
by failing to adequately shop the Company before entering into this
transaction and whether H.I.G. is underpaying for Matrixx shares.
According to Thomson/FirstCall, at least one analyst set a price
target for Matrixx stock at $8.50 per share.
If you own common stock in Matrixx and wish to obtain additional
information, please contact Abe Shainberg, Esq. either via email at
as@ashainberglaw.com or by telephone at (212) 425-7286, or visit
http://www.ashainberglaw.com/matrixx-mtxx.html.
Mr. Shainberg has expertise in prosecuting investor securities
litigation, is a certified and registered arbitrator and mediator
involving financial matters, and represents investors in various
matters nationwide. Attorney advertising. Prior results do not
guarantee similar outcomes.
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