Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Otix Global, Inc...
13 Septembre 2010 - 7:50PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Otix Global, Inc. (“Otix” or the “Company”) (NasdaqGM: OTIX) for
possible breaches of fiduciary duty and other violations of state
law in connection with their attempt to sell the Company to William
Demant Holding ("WDH"). Under the terms of the transaction, Otix
shareholders will receive $8.60 in cash for each share of Otix
common stock they own for a total transaction value of
approximately $50 million.
The investigation concerns whether the Otix Board of Directors
breached their fiduciary duties to Otix stockholders by failing to
adequately shop the Company before entering into this transaction
and whether WDH is underpaying for Otix shares, thus unlawfully
harming Otix stockholders. In particular, at least one analyst has
set a price target for Otix stock at $15.00 per share.
If you own common stock in Otix and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500 or visit
http://www.zlk.com/otix.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.
Otix Global (MM) (NASDAQ:OTIX)
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