NEW YORK, March 28, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of ISTA Pharmaceuticals, Inc. ("ISTA" or the "Company") (Nasdaq: ISTA) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Bausch + Lomb. Under the terms of the agreement, ISTA shareholders will receive $9.10 for each share of ISTA stock they own. The transaction has a total approximate value of $500 million.
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The investigation concerns whether the ISTA Board of Directors breached their fiduciary duties to ISTA stockholders by failing to adequately shop the Company before entering into this transaction and whether Bausch + Lomb is underpaying for ISTA shares, thus unlawfully harming ISTA stockholders. In particular, at least one analyst set a price target for ISTA stock at $12.00 per share.
If you own common stock in ISTA and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://www.zlk.com.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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