STEVENSON, Md. -- (Business Wire)
The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of Wright Medical Group, Inc. (“Wright” or the “Company”)
(Nasdaq: WMGI) relating to the proposed buyout of the Company by Tornier
N.V. (“Tornier”).
On October 27, 2014, Wright and Tornier announced that they have entered
into a definitive merger agreement under which Wright and Tornier will
combine in an all stock transaction with a combined equity value of
approximately $3.3 billion.
Under the terms of the transaction, Wright shareholders will receive
1.0309 Tornier common shares for each share of Wright stock they own,
representing an approximate value of $24.79 per share, based on
Tornier’s recent closing price.
The transaction is expected to close in the first half of 2015, though
Wright shareholders will most likely be asked to vote on the transaction
well before that time.
The firm’s investigation seeks to determine, among other things, whether
Wright’s Board of Directors failed to satisfy their duties to the
Company’s shareholders, including whether the board adequately pursued
alternatives to the acquisition and whether the board obtained the best
price possible for the Company’s shares of common stock. In particular,
according to Yahoo! Finance, at least one Wall Street analyst has
issued a price target for Wright stock at $40.00 per share.
If you currently own common stock of Wright and would like to learn more
about the investigation being conducted by Brower Piven, without cost or
obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s.
Contacts:
Brower Piven, A Professional Corporation
Charles J. Piven,
410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com
Source: Brower Piven, A Professional Corporation
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