Levi & Korsinsky, LLP Announces Class Action Lawsuit Against Life Sciences Research, Inc. - LSR
10 Luglio 2009 - 7:16PM
Marketwired
Levi & Korsinsky announces that a class action lawsuit has been
filed in the Superior Court of the State of New Jersey challenging
the proposed acquisition of Life Sciences Research, Inc. ("Life
Sciences" or the "Company") (NYSE: LSR).
The Complaint arises out of the announcement by Life Sciences to
sell the Company to Lion Holdings, Inc., an entity that is
controlled by Andrew Baker, Chairman and CEO of Life Sciences.
Under the terms of the agreement, Life Sciences shareholders will
receive $8.50 in cash for each share of Life Sciences they own, or
a total transaction value of approximately $113 million. This
raises questions as to whether the Life Sciences Board of Directors
breached their fiduciary duties to shareholders given that: (i) the
Company's shares traded at $9.83 as recently as January 5, 2009 and
over $32 per share in the fourth quarter of 2008; (ii) at least one
analyst set a price target for Life Sciences stock at $20 per
share; and (iii) the Company agreed to a non-solicitation provision
and a termination fee of up to $4,460,000 that will all but ensure
that no superior offer will ever be forthcoming.
The Company expects to consummate the transaction in the fourth
quarter, subject to customary closing conditions, including all
necessary regulatory and stockholder approvals.
If you own common stock in Life Sciences and wish to obtain
additional information, please contact us at the number listed
below or visit www.zlk.com/lsr1.html
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation.
CONTACT: Levi & Korsinsky, LLP Eduard Korsinsky, Esq. Juan
E. Monteverde, Esq. 30 Broad Street -15th Floor New York, NY 10004
Tel: (212) 363-7500 Fax: (212) 363-7171 www.zlk.com
Grafico Azioni Life Sciences Research (NYSE:LSR)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni Life Sciences Research (NYSE:LSR)
Storico
Da Set 2023 a Set 2024
Notizie in Tempo Reale relative a Life Sciences Research (Borsa di New York (NYSE)): 0 articoli recenti
Più Levi & amp; Korsinsky, LLP Articoli Notizie