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DALLAS -- (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.
Contacts:
Powers Taylor, LLP
Patrick Powers, 877-728-9607
patrick@powerstaylor.com
or
The
Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
WBriscoe@TheBriscoeLawFirm.com
Source: Powers Taylor, LLP