BioMimetic Therapeutics Investor Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Wright Medical Group
20 Novembre 2012 - 8:23PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of BioMimetic Therapeutics, Inc.
(“BioMimetic”) (NasdaqGS: BMTI) to Wright Medical Group, Inc. for
shareholders. Under the proposed deal valued at approximately $380
million, BioMimetic shareholders will only receive an initial
payment of $1.50 in cash and 0.2482 shares of Wright common stock
for each share of BioMimetic stock owned. Shareholders will also
receive one tradable Contingent Value Right (“CVR”), which entitles
the holder to receive additional cash payments of up to $6.50 per
share upon certain milestones. Based upon the Friday’s closing, the
upfront payment is valued at approximately $6.47, well below at
least one analyst’s estimated value of $7.50 per share.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, 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, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The BioMimetic sale investigation centers on whether
BioMimetic’s shareholders are receiving adequate compensation for
their shares in the buyout, whether the transaction undervalues
BioMimetic’s stock, and whether BioMimetics’ board attempted to
obtain the highest share price for all shareholders prior to
agreeing to the deal. According to an analyst with Yahoo! Finance,
the true inherent value of BioMimetic could be as high as $7.50 per
share. Shareholder rights attorney Patrick Powers stated that “we
believe that this transaction may undervalue BioMimetic’s stock.
Thus, our proposed lawsuit will seek to obtain the highest share
price for all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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