Faruqi & Faruqi, LLP is Investigating Palomar Medical Technologies Inc. (PMTI) for Potential Breaches of Fiduciary Duties
13 Aprile 2013 - 1:01AM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of Palomar Medical Technologies Inc. (“Palomar” or the
“Company”) (NasdaqGS: PMTI) for potential breaches of fiduciary
duty to disclose material information in the Preliminary Proxy
Statement Schedule 14A (the “Proxy”) filed with the S.E.C. on April
4, 2013, which may impair shareholders’ ability to adequately value
stock price in relation to the sale of the Company to Cynosure,
Inc. (NasdaqGS: CYNO) in a deal valued at $294 million. The price
per share offered to Palomar’s shareholders is also under
investigation, as under the terms of the proposed transaction,
Palomar’s stockholders will receive $6.825 in cash and $6.825 in
Cynosure common stock for each share of Palomar common stock they
own, while according to Yahoo! Finance, at least one financial
analyst has set a price target of $14.50 for Palomar.
Request more information now by clicking here:
www.faruqilaw.com/PMTI. There is no cost or
obligation to you.
The investigation focuses on whether Palomar’s Board of
Directors breached their fiduciary duties to Palomar’s stockholders
by failing to disclose all material information in the Proxy,
whether the Board failed to maximize shareholder value and if so,
by how much the sale undervalues the Company to the detriment of
Palomar’s shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm is
focused on providing exemplary legal services in complex litigation
in the areas of securities, shareholder, antitrust and consumer
litigation, throughout all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients.
If you own common stock in Palomar and wish to obtain additional
information and protect your investments free of charge, please
visit us at www.faruqilaw.com/PMTI or contact Juan E. Monteverde,
Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone
at (877) 247-4292 or (212) 983-9330.
Attorney Advertising. (C) 2013 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
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