Rigrodsky & Long, P.A. Announces Investigation Of BioMimetic Therapeutics, Inc. Buyout
19 Novembre 2012 - 6:23PM
Business Wire
Rigrodsky & Long, P.A. announces that it is investigating
potential legal claims against the board of directors of BioMimetic
Therapeutics, Inc. (“BMTI” or the “Company”) (NASDAQ GS: BMTI)
regarding possible breaches of fiduciary duties and other
violations of law related to the Company’s entry into an agreement
to be acquired by Wright Medical Group, Inc. (“Wright”) (NASDAQ GS:
WMGI) in a transaction valued at approximately $380 million.
Click here to learn more:
http://www.rigrodskylong.com/investigations/biomimetic-therapeutics-inc-bmti.
Under the terms of the proposal, public shareholders of BMTI
will receive $12.97 per share in cash for each share of BMTI they
own, based on Wright’s closing stock price on Friday, November 16,
2012. Each share of BMTI common stock will be converted into the
right to receive an upfront payment of $1.50 in cash and 0.2482
shares of Wright common stock. The upfront payment values BMTI at
approximately $190 million, or $6.47 per share, based on Wright’s
closing stock price on November 16, 2012. Each BMTI share will also
receive one tradable Contingent Value Right (“CVR”), which entitles
its holder to receive additional cash payments of up to $6.50 per
share, which are payable upon receipt of FDA approval of Augment®
Bone Graft and upon achieving certain revenue milestones.
The investigation concerns whether BMTI’s board of directors
failed to adequately shop the Company and obtain the best possible
value for BMTI’s shareholders before entering into an agreement
with Wright. According to Yahoo! Finance, at least one analyst has
set a price target for BMTI stock at $7.50 per share.
If you own the common stock of BMTI and purchased your shares
before November 19, 2012, if you have information or would like to
learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate
Boulevard, Suite 300, Garden City, New York 11530 toll free at
(888) 969-4242, by e-mail to info@rigrodskylong.com, or at:
http://www.rigrodskylong.com/investigations/biomimetic-therapeutics-inc-bmti.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly prosecutes securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, on behalf of shareholders in
states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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