Law Office of Brodsky & Smith, LLC Announces Investigation of
BioMimetic Therapeutics, Inc.
BALA CYNWYD, Pa., Nov. 20, 2012 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of BioMimetic
Therapeutics, Inc. ("BioMimetic" or the "Company") (Nasdaq- BMTI)
relating to the proposed acquisition by Wright Medical Group, Inc.
("Wright").
Under the terms of the transaction, BioMimetic shareholders will
receive only $1.50 in cash, 0.2482
shares of Wright stock, and a tradable Contingent Value Right for
each share of BioMimetic stock they own. The Contingent Value Right
entitles its holder to receive a cash payment of up to $6.50 payable upon receipt of FDA approval of
Augment® Bone Graft and certain revenue milestones. The
investigation concerns possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of
BioMimetic for not acting in the Company's shareholders' best
interests in connection with the sale process to Wright. The
transaction may undervalue the Company and will not result in a
substantial gain and may even cause a loss for many BioMimetic
shareholders. For example BioMimetic stock traded at $14.31 on April 7,
2011 and an analyst has placed a $7.50 per share price target on BioMimetic
stock.
If you own shares of BioMimetic stock and wish to discuss the
legal ramifications of the proposed transaction, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith,
LLC, Two Bala Plaza, Suite 602, Bala
Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com visiting
http://brodsky-smith.com/509-bmti-biomimetic-therapeutics-inc.html,
by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC