DALLAS, Feb. 14, 2012 /PRNewswire/ -- Former United
States Securities and Exchange Commission attorney Willie Briscoe
and the securities litigation firm of Powers Taylor, LLP are
investigating the sale of SeraCare Life Sciences, Inc. ("SeraCare"
or "SRLS") (NASDAQ: SRLS) to an affiliate of Linden Capital
Partners for shareholders. Under the proposed transaction,
SeraCare shareholders will receive $4.00 in cash for each share of SeraCare/SRLS
stock owned, which is well below the target price of $5.00 per share announced by analysts.
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If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@powerstaylor.com, or
Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to
you.
The definitive merger agreement involves an all cash transaction
with a total equity value of approximately $82 million. The deal is expected to close
in the second quarter of calendar year 2012.
The investigation centers on whether SeraCare shareholders are
receiving adequate compensation for their shares in the buyout,
whether the transaction undervalues SeraCare stock, and whether
SeraCare's board attempted to obtain the highest share price for
all shareholders prior to agreeing to the deal. Although the
acquisition price represents an approximate 11% premium over the
closing price of SeraCare shares the day prior to the buyout
announcement, SeraCare shares closed as high as $4.15 per share as recently as July 19, 2011. Further, according to Yahoo!
Finance, at least one analyst has reported that the true inherent
value of SeraCare shares may be as high as $5.00 per share. According to shareholder rights
attorney Willie Briscoe, "Because of
the lack of a significant premium to the shareholders and the
company's rising historic share value, among other factors, we
believe that the transaction may significantly undervalue SeraCare
stock. Our lawsuit will seek to obtain the highest share
price for all shareholders."
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.
SOURCE Powers Taylor, LLP