Palomar Medical Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Cynosure
18 3월 2013 - 11:40PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of Palomar Medical Technologies,
Inc. (“Palomar”) (NasdaqGS: PMTI) to Cynosure, Inc. for
shareholders. Under the terms of the proposed transaction valued at
approximately $294 million, Palomar shareholders will only receive
$13.65 in consideration: $6.825 in cash and $6.825 in Cynosure
common stock (subject to adjustment), for each share of Palomar
stock owned, well below at least one analyst’s estimated value of
$14.50 per share.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Willie Briscoe at The
Briscoe Law Firm, PLLC, (214) 239-4568, or via email at
WBriscoe@TheBriscoeLawFirm.com, or Zach Groover at Powers Taylor,
LLP, toll free (877) 728-9607, via e-mail at zach@powerstaylor.com.
There is no cost or fee to you.
The Palomar sale investigation centers on whether Palomar’s
shareholders are receiving adequate compensation for their shares
in the buyout, whether the transaction undervalues Palomar’s stock,
and whether Palomar’s board attempted to obtain the highest share
price for all shareholders prior to agreeing to the deal. Notably,
at least one analyst with Yahoo! Finance has estimated that the
true inherent value of Palomar shares could be as high as $14.50
per share. Shareholder rights attorney Patrick Powers stated that
“due to proposed sale price, analysts’ estimates, the size of the
deal and other factors, we believe this transaction may undervalue
Palomar’s stock. Our proposed lawsuit will seek to ensure that
shareholders are receiving the highest share price for their
shares.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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