The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of TomoTherap...
09 Marzo 2011 - 8:09PM
Business Wire
The Law Offices of Vincent Wong are investigating the Board of
Directors of TomoTherapy Incorporated (“TomoTherapy” or the
“Company”) (Nasdaq: TOMO) for possible breaches of fiduciary duty
and other violations of state law in connection with the sale of
the company to Accuray Incorporated (“Accuray”) (Nasdaq: ARAY).
Under the terms of the deal, TomoTherapy stockholders will receive
$3.15 in cash and 0.1648 shares of Accuray stock for every share of
TomoTherapy they own which equals $4.80 per share, based on the
prior closing price of Accuray stock. The transaction has a total
value of approximately $277 million.
The investigation concerns whether the TomoTherapy Board of
Directors breached their fiduciary duties to TomoTherapy
stockholders by failing to adequately shop the Company before
entering into this transaction and whether Accuray is underpaying
for TomoTherapy shares. According to Thomson/First Call, at least
one analyst set a price target of $5.00 per share for TomoTherapy
stock.
If you own common stock in TomoTherapy and wish to obtain
additional information, please contact Vincent Wong, Esq. either
via email vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/tomotherapy.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights. Attorney advertising.
Prior results do not guarantee similar outcomes.
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