A lawsuit was filed against the takeover of Conceptus, Inc. (NASDAQ:CPTS) and NASDAQ:CPTS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/14/2013 -- An investor, who currently hold NASDAQ:CPTS shares, filed a lawsuit in effort to halt the proposed takeover of Conceptus, Inc. by Bayer HealthCare LLC for $31.00 per NASDAQ:CPTS share.
Investors who purchased shares of Conceptus, Inc. (NASDAQ:CPTS) prior to April 29, 2013, and currently hold any of those NASDAQ:CPTS shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
On April 29, 2013, Conceptus, Inc. announced that Conceptus has signed a merger agreement with Bayer HealthCare LLC under which Bayer HealthCare LLC will launch a public tender offer to acquire all shares of common stock of Conceptus, Inc. The transaction values Conceptus, Inc. at approx. US$1.1 billion (approx. €852 million) representing US$31.00 per share in cash.
However, the plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:CPTS stockholders by agreeing to sell the company at an unfair price via an unfair process.
Conceptus, Inc. reported that its annual Total Revenue rose from $126.98 million in 2011 to $140.73 million in 2012 and that its Net Loss of $7.94 million in 2011 turned into a Net Income of $5.38 million in 2012.
Shares of Conceptus, Inc. grew from as low as $9.98 in September 2011 to as high as $27.01 per share on April 25, 2013.
On May 13, 2013, NASDAQ:CPTS shares closed at $30.98 per share.
Those who are current investors in Conceptus, Inc. (NASDAQ:CPTS), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego