CORRECTING and REPLACING SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possi
Mar 18th 2013 4:35PM
Updated Mar 18th 2013 4:40PM
CORRECTING and REPLACING SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Palomar Medical Technologies Inc. in Connection with Sale of Company to Cynosure Inc.
The corrected release reads:
SHAREHOLDER ALERT: LEVI & KORSINSKY, LLP ANNOUNCES INVESTIGATION INTO POSSIBLE BREACHES OF FIDUCIARY DUTY BY THE BOARD OF PALOMAR MEDICAL TECHNOLOGIES INC. IN CONNECTION WITH SALE OF COMPANY TO CYNOSURE INC.
Levi & Korsinsky is investigating the Board of Directors of Palomar Medical Technologies Inc. ("Palomar" or the "Company") (NasdaqGS: PMTI) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Cynosure Inc. (NasdaqGS: CYNO).
Click here to learn how to join the action: http://zlk.9nl.com/palomar-medical-pmti/, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Palomar shareholders will receive $6.825 in cash and $6.825 in Cynosure common stock for each share of Palomar stock they own. The transaction has a total approximate value of $294 million. The investigation concerns whether the Palomar Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether Cynosure Inc. is underpaying for Palomar shares, thus unlawfully harming Palomar stockholders. In particular, at least one analyst set a price target for Palomar stock at $14.50 per share.
If you own common stock in Palomar and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/palomar-medical-pmti/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
KEYWORDS: United States North America New York
The article CORRECTING and REPLACING SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Palomar Medical Technologies Inc. in Connection with Sale of Company to Cynosure Inc. originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.