BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Synovis Life Technologies, Inc. (SYNO) Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate the Board of Synovis Life Technologies, Inc. Concerning the Sale of SYNO to Baxter International, Inc. (BAX)


12/14/2011 10:20:15 AM

DALLAS, Dec. 13, 2011 /PRNewswire/ -- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Synovis Life Technologies, Inc. ("Synovis" or "SYNO") (NASDAQ: SYNO) to Baxter International, Inc. for shareholders. Under the proposed acquisition, Synovis shareholders will receive only $28.00 in cash for each share of Synovis/SYNO stock owned.

(Logo: http://photos.prnewswire.com/prnh/20111111/DA05320LOGO)

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 definitive acquisition agreement involves an all cash transaction with an equity value of $325 million. The transaction is expected to close in the first quarter of 2012.

The investigation centers on whether Synovis shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Synovis' stock, and whether Synovis' board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. More specifically, Synovis recently reported positive financial results for its third fiscal quarter, including a 19% increase in revenue and a 69% increase in net income. In addition, since early August 2011 alone, Synovis shares have increased in value over $5.10 per share. According to shareholder rights attorney Willie Briscoe, "Based on these and other factors, we are concerned that the transaction may significantly undervalue Synovis stock. Our 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.

SOURCE Powers Taylor, LLP



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES