SAN DIEGO, June 8, 2016 /PRNewswire/ -- Shareholder rights
law firm Johnson & Weaver, LLP has launched an investigation
into whether the board members of LDR Holding Corporation (NASDAQ:
LDRH) breached their fiduciary duties in connection with the
proposed sale of the Company to Zimmer Biomet Holdings, Inc. (NYSE:
ZBH).
Additional Information:
LDR is a medical device company that focuses on designing and
commercializing various surgical technologies for the treatment of
patients suffering from spine disorders.
On June 7, 2016, LDR announced it
had signed a definitive merger agreement with Zimmer Biomet. Under
the terms of the agreement, LDR stockholders will receive
$37.00 per share in cash. Zimmer
Biomet plans to finance the transaction using cash balances on hand
and existing availability under its revolving credit facility.
The investigation concerns whether the LDR board failed to
satisfy their duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for LDR shares
of common stock. Nationally recognized Johnson & Weaver is
investigating whether the proposed deal price represents adequate
consideration; especially given that the price target for
one Wall Street analyst is $40.00.
The 52 week high for LDR stock is $47.12.
If you are a shareholder of LDR and believe the proposed
buyout price is too low or you're interested in learning more about
the investigation or your legal rights and remedies, please contact
lead analyst Jim Baker
(jimb@johnsonandweaver.com) at 619-814-4471. If emailing, please
include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP