SAN DIEGO, April 11, 2018 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of Analogic Corporation (NASDAQ: ALOG)
("Analogic") breached their fiduciary duties in connection with the
proposed sale of the Company to Altaris Capital Partners LLC.
Analogic, designs, manufactures, and sells medical imaging systems,
ultrasound and security systems, and subsystems to original
equipment manufacturers (OEMs) and end users primarily for the
medical and airport security markets worldwide.
On April 10, 2018, Analogic
announced that it had signed a definitive merger agreement with
Altaris. Under the terms of the agreement, Analogic shareholders
will receive only $84 per share in
cash.
The investigation concerns whether the Analogic board failed to
satisfy its 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 Analogic
shares of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given
one Wall Street analyst has a $95
price target on the stock. The 52-week high for
Analogic was $101.80. Additionally, Analogic has
over $165 million in cash and
no long-term debt.
If you are a shareholder of Analogic 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@johnsonfistel.com) at
619-814-4471. If emailing, please include a phone
number.
About Johnson Fistel,
LLP:
Johnson Fistel, 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.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP