Robbins Umeda LLP Announces an Investigation of SeraCare Life Sciences, Inc.
15 Febrero 2012 - 12:05PM
Business Wire
Shareholder rights firm Robbins Umeda LLP has commenced an
investigation into possible breaches of fiduciary duty and other
violations of the law by members of the board of directors of
SeraCare Life Sciences, Inc. (NASDAQ:SRLS) in connection with their
efforts to sell the company to Linden Capital Partners. Concerned
shareholders who would like more information about their rights and
potential remedies can contact attorney Gregory E. Del Gaizo at
(800) 350-6003, info@robbinsumeda.com, or via the shareholder
information form on the firm's website.
On February 13, 2012, SeraCare announced that it has entered
into a definitive agreement to be acquired by an affiliate of
Linden Capital Partners, a Chicago-based private equity firm.
According to the terms of the agreement, SeraCare shareholders will
receive $4.00 for each share of the company they own. The agreement
was unanimously approved by SeraCare's board of directors. The
transaction is expected to close in the second quarter of calendar
year 2012.
Robbins Umeda LLP's investigation focuses on whether SeraCare's
board is undertaking a fair process to obtain maximum value and
adequately compensate shareholders in light of SeraCare's recent
first quarter 2012 results. Significantly, the deal represents only
an 11.73% premium, well below an average premium of 72.99% over the
past two years for comparable transactions in the "Medical
Products" sector. In addition, on February 10, 2012, the company
reported EPS of $0.07 on revenue of $11.37 million while analysts
polled by Bloomberg had been expecting EPS of $0.03 on revenue of
$11.00 million. Further, the company's first quarter 2012 revenue
of $11.37 million represented a 9% increase compared with the $10.5
million reported for the same quarter in the prior year. Moreover,
gross margins increased 6% to 44%, compared with 38% for the same
quarter in the prior year. Finally, at least two market analysts
have released target prices for SeraCare that value the company's
stock at $5.00 per share, higher than the value being offered by
Linden Capital Partners as a part of the proposed transaction.
Robbins Umeda attorneys highlight that SeraCare shareholders
have the option to file a class action lawsuit against the company
to secure the best possible price for the company's shareholders
and the disclosure of material information to shareholders so they
can vote on the transaction in an informed manner.
Robbins Umeda LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits, and has helped its
clients realize more than $1 billion of value for themselves and
the companies in which they have invested. For more information,
please go to http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/seracare/
Attorney Advertising. Past results do not guarantee a similar
outcome.
Seracare Life Sciences (NASDAQ:SRLS)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Seracare Life Sciences (NASDAQ:SRLS)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024
Real-Time news about Seracare Life Sciences (MM) (NASDAQ): 0 recent articles
Más de Robbins Umeda LLP Artículos de Noticias