An investigation on behalf of investors of EndoChoice Holdings Inc (NYSE:GI) in connection with the proposed takeover was announced and NYSE:GI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/07/2016 -- An investigation on behalf of investors, who currently hold shares of EndoChoice Holdings Inc (NYSE:GI), was announced over the takeover of EndoChoice Holdings Inc. by Boston Scientific for $8.00 per share.
Investors who purchased shares of EndoChoice Holdings Inc (NYSE:GI) and currently hold any of those NYSE:GI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of EndoChoice Holdings Inc breached their fiduciary duties owed to NYSE:GI investors in connection with the proposed acquisition.
On September 27, 2016, Boston Scientific (NYSE: BSX) and EndoChoice Holdings Inc (NYSE:GI) announced the companies have entered into an agreement under which Boston Scientific has agreed to acquire EndoChoice Holdings Inc (NYSE:GI). Under the terms of the agreement, Boston Scientific will launch a tender offer for all EndoChoice Holdings Inc (NYSE:GI) outstanding shares at a cash price of $8.00 per share.
However, given that at least one analyst has set the high target price for NYSE:GI shares at $10.00 per share and that NYSE:GI shares traded as high as $17.07 per share in August 2015, the investigation concerns whether the offer is unfair to NYSE:GI stockholders. More specifically, the investigation concerns whether the EndoChoice Holdings Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
EndoChoice Holdings Inc reported that its annual Total Revenue rose from $61.42 million in 2014 to $72.30 million in 2015.
Shares of EndoChoice Holdings Inc (NYSE:GI) closed on October 6, 2016, at $7.98 per share.
Those who are current investors in EndoChoice Holdings Inc shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com