The Shuman Law Firm Announces Investigation on Behalf of BioForm Medical, Inc. Shareholders
15 Enero 2010 - 1:44PM
Business Wire
The Shuman Law Firm today announced that it is investigating
potential breaches of fiduciary duty and other violations of state
law on behalf of shareholders of of BioForm Medical, Inc. (“BioForm
Medical” or the “Company”) (Nasdaq: BFRM) related to the Company’s
merger agreement with Merz Pharma Group ("Merz"), a privately held
company based in Frankfurt, Germany.
The cash transaction is valued at approximately $253 million,
based on the Company’s outstanding shares of common stock.
Under the terms of a definitive agreement entered into by the
parties, Merz will acquire all of the outstanding shares of BioForm
Medical for $5.45 per share in cash pursuant to a cash tender offer
followed by a second-step merger. Following completion of the
transaction, BioForm Medical will become a wholly-owned subsidiary
of Merz and will be renamed Merz Aesthetics. The investigation
concerns whether the board breached their fiduciary duties by
agreeing to various deal protections that may prevent other
superior offers. These protections include restrictions on
solicitation of alternative proposals, a top-up option to acquire
additional shares, the board’s agreement to pay an $8 million
termination fee.
If you are interested in discussing your rights as a BioForm
Medical shareholder, or have information relating to this
investigation, please contact Kip B. Shuman or Rusty E. Glenn toll
free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com
or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in securities class actions and
shareholder derivative actions.
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