NEW YORK, Feb. 14, 2017 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of ZELTIQ Aesthetics,
Inc. ("ZLTQ" or the "Company") in connection with the proposed
acquisition of the Company by Allergan Plc. ("Allergan").
Under the terms of the agreement, the Company's shareholders
will receive $56.50 for each ZLTQ
share they own.
WeissLaw is investigating whether ZLTQ's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $58.00 per share, or $1.50 above the offer price. Additionally,
ZLTQ announced double digit percentage growth in the third quarter
of 2016, reporting revenue increased 55% year-over-year to
$95.2 million. Moreover,
on January 26, 2017, the Company
announced the FDA cleared CoolSculpting, ZLTQ's proprietary
controlled-cooling technology for the non-invasive treatment of fat
in the upper arms, the only product of its kind on the
market. Allergan anticipates gaining significant benefits and
cross-selling opportunities from ZLTQ's CoolSculpting system.
Finally, Allergan expects the acquisition to enhance its global
medical aesthetics portfolio and to be immediately accretive.
Given these facts, WeissLaw is investigating whether ZLTQ's
Board acted in the best interests of ZLTQ's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own ZLTQ shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/zeltiq-aesthetics-inc.
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SOURCE WeissLaw LLP