Law Office of Brodsky & Smith, LLC Announces Investigation of Orchid Cellmark, Inc.
13 Abril 2011 - 10:30PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Orchid Cellmark, Inc. (“Orchid” or the “Company”) (Nasdaq: ORCH)
relating to the proposed acquisition by Laboratory Corporation of
America Holdings (“LabCorp”). The deal is worth approximately $85.4
million.
Under the terms of the transaction Orchid shareholders would
receive $2.80 for each share Orchid stock they own. The
investigation concerns possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of Orchid
by not acting in the Company’s shareholders' best interests in
connection with the sale process to LabCorp. The transaction may
undervalue Orchid as the offer is not significantly higher the
April 6, 2011 Orchid share price of $2.76. Additionally, one
analyst has set a price target of $6.00 for the Company.
If you own shares of Orchid stock and wish to discuss the legal
ramifications of the proposed transaction, or have any questions,
you may e-mail or call the law office of Brodsky & Smith, LLC
who will, without obligation or cost to you, attempt to answer your
questions. You may contact Jason L. Brodsky, Esquire or Evan J.
Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, visiting
http://brodsky-smith.com/276-orch-orchid-cellmark-inc.html, or by
calling toll free 877-LEGAL-90.
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