Robbins Umeda LLP Is Investigating Orthovita, Inc. Acquisition for Shareholders
16 Mayo 2011 - 6:54PM
Business Wire
Robbins Umeda LLP, a shareholder rights litigation firm, is
interested in helping shareholders of Orthovita, Inc. (NADSAQ:
VITA). The firm has commenced an investigation into possible
breaches of fiduciary duty and other violations of state law by
members of the board of directors of Orthovita in connection with
their efforts to sell Orthovita to Stryker Corporation (NYSE:
SYK).
If you own stock in Orthovita and would like more information
about your shareholder rights, please contact Gregory E. Del Gaizo
at 800-350-6003 or via the shareholder information form on our
website.
On May 16, 2011, Stryker announced it has entered into a
definitive agreement to acquire Orthovita. Under the terms of the
agreement, Orthovita shareholders will receive $3.85 in cash for
each outstanding share of Orthovita common stock. The acquisition
of Orthovita will be completed through a cash tender offer that is
expected to commence within 10 business days and close in the
second quarter 2011. The tender offer will be followed by a second
step merger.
The investigation focuses on whether Orthovita's board is
undertaking a fair process to obtain maximum value for its
shareholders. Of particular interest, three analysts have a price
target of $4.00 for Orthovita, higher than the offer price.
Robbins Umeda LLP represents individual and institutional
shareholders in derivative, direct, and class action lawsuits. The
firm's skilled litigation teams include former federal prosecutors,
former defense counsel from top multinational corporate law firms,
and career shareholder rights attorneys. Robbins Umeda LLP 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/orthovita-inc/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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