A lawsuit was filed for investors in shares of Derma Sciences Inc (NASDAQ:DSCI) in connection with the proposed takeover and NASDAQ:DSCI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/08/2017 -- The Shareholders Foundation announces that an investor who currently holds shares of Derma Sciences Inc (NASDAQ:DSCI), filed a lawsuit against the buyout of Derma Sciences Inc. by LifeSciences Holdings Corporation.
Investors who purchased shares of Derma Sciences Inc (NASDAQ:DSCI) and currently hold any of those NASDAQ:DSCI shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:DSCI stockholders by agreeing to sell Derma Sciences Inc too cheaply via an unfair process to Integra LifeSciences Holdings Corporation.
On January 10, 2017, Derma Sciences Inc (NASDAQ:DSCI) announced that it has signed an agreement whereby Derma Sciences will be acquired by Integra LifeSciences Holdings Corporation(Nasdaq: IART) for $7.00 per share of common stock in cash, or a total of approximately $204 million, and $32.00 per share for its outstanding shares of Series A Convertible Preferred Stock and $48.00 per share for its Series B Convertible Preferred Stock, reflecting the stated value of such preferred stock in each case.
However, plaintiff claims that the proposed consideration NASDAQ:DSCI shareholders will receive is grossly inadequate and undervalues Derma Sciences Inc. Indeed, at least one analyst has set the high target price for NASDAQ:DSCI shares at $8.50 per share. Derma Sciences Inc reported that its annual Total Revenue rose from $83.75 million in 2014 to $84.47 million in 2015. Shares of Derma Sciences Inc (NASDAQ:DSCI) reached in 2014 as high as $15.21 per share. In addition, the plaintiff alleges that the process is also unfair NASDAQ:DSCI stockholders.
On February 7, 2017, NASDAQ:DSCI shares closed at $7.00 per share
Those who are current investors in Derma Sciences Inc shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego