Law Firm Kirby McInerney LLP Investigating Potential Claims on Palomar Medical Technologies, Inc. Shareholders
19 Março 2013 - 1:21PM
Business Wire
Kirby McInerney LLP is investigating potential claims against
the Board of Directors of Palomar Medical Technologies, Inc.
(“Palomar” or the “Company”) (NASDAQ: PMTI) related to the proposed
acquisition of the Company by Cynosure, Inc. (NASDAQ: CYNO)
(“Cynosure”). Under the terms of the agreement, Cynosure will
acquire PMTI in a cash and stock transaction pursuant to which
shareholders will receive $6.825 per share in cash and $6.825 per
share in Cynosure common stock, valuing the transaction at
approximately $294 million.
The investigation concerns whether the Palomar Board of
Directors violated its fiduciary duties by agreeing to this
transaction and whether the proposed per-share consideration
adequately values Palomar shares. The combined acquisition price of
$13.65 represents a premium of only 23% above the average closing
price of Palomar shares since February 7, 2013, when the Company
announced its 2012 year-end results.
If you are a Palomar shareholder and wish to obtain additional
information, please contact J. Brandon Walker, Esq. by email
at bwalker@kmllp.com, by telephone at (212) 699-1145 or (888)
529-4787, or by filling out this contact form.
Kirby McInerney LLP is a New York-based law firm concentrating
in securities, shareholder, whistleblower, antitrust and consumer
litigation. For additional information, please go to
www.kmllp.com
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