Briscoe Law Firm Investigates Vital Images, Inc. for Shareholders Concerning the Sale of the Company to Toshiba Medical Syste...
28 Aprile 2011 - 5:32PM
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 Vital Images, Inc. (“Vital Images” or
“VTAL”) (NASDAQ: VTAL) related to the buyout of Vital Images by a
subsidiary of Toshiba Medical Systems Corporation.
The definitive merger agreement, which was announced on April
27, 2011, involves an all-cash transaction valued at approximately
$273 million. Under the proposed buyout, Vital Images shareholders
will receive only $18.75 in cash for each share of Vital
Images/VTAL common stock they hold through a tender offer
commencing by May 11, 2011. The transaction is expected to close in
the second or third quarter of 2011.
The firms are investigating the fairness of the proposed
transaction to Vital Images shareholders and whether Vital Images’
Board of Directors acted in the shareholders’ best interests. In
particular, at least one analyst has set a target price as high as
$19.00 per share, and VTAL shares closed above $15.20 per share as
recently as February 2011. Based on these and other factors, the
firms do not believe that the acquisition price is fair to Vital
Images shareholders. “In addition, our firms are also investigating
whether Vital Images’ Board of Directors adequately considered all
viable alternatives before entering into the agreement,” said
shareholder rights attorney Willie Briscoe.
If you currently own shares of Vital Images/VTAL 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.
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