The Briscoe Law Firm Investigates Orthovita, Inc. for Shareholders Concerning Acquisition by Stryker Corporation
16 Mayo 2011 - 4:41PM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the securities litigation law firm of
Powers Taylor, LLP are investigating potential legal claims against
the Board of Directors of Orthovita, Inc. (“Orthovita” or “VITA”)
(NASDAQ: VITA) related to the acquisition of Orthovita by Stryker
Corporation (NYSE: SYK).
The definitive agreement, which was announced on May 16, 2011,
involves an all-cash transaction valued at approximately $316
million. Under the proposed buyout, Orthovita shareholders will
receive only $3.85 in cash for each share of Orthovita/VITA common
stock they hold through a tender offer. The tender offer is
expected to be completed in the second quarter of 2011.
The firms are investigating the fairness of the proposed
transaction to Orthovita shareholders, whether the shareholders are
being underpaid for their stock, and whether Orthovita’s Board of
Directors acted in the shareholders’ best interests. In particular,
although the acquisition price represents a premium over
Orthovita’s closing price the day before the announcement, at least
one analyst has set a target price of $4.00 per share for Orthovita
shares. Based on this and other factors, the firms do not believe
that the acquisition price is fair to Orthovita shareholders.
Further, the firms are also investigating whether Orthovita’s Board
of Directors adequately considered all viable alternatives before
entering into the agreement.
If you currently own shares of Orthovita/VITA and would like
additional information regarding this investigation, or if you have
information regarding the allegations involved in this transaction,
please 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 toll free (877) 397-5991, or
via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or
fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters
nationwide, including claims of investor and stockholder fraud,
shareholder oppression, shareholder derivative suits, and security
class actions.
Orthovita, Inc. (MM) (NASDAQ:VITA)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Orthovita, Inc. (MM) (NASDAQ:VITA)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024