An investigation on behalf of investors of Solta Medical Inc (NASDAQ:SLTM) in connection with the proposed takeover was announced and NASDAQ:SLTM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/19/2013 -- An investigation on behalf of investors, who currently hold shares of Solta Medical Inc (NASDAQ:SLTM) shares, was announced concerning whether the takeover of Solta Medical Inc by Valeant Pharmaceuticals International. for $2.92 per share is unfair to NASDAQ:SLTM stockholders.
Investors who purchased shares of Solta Medical Inc and currently hold any of those NASDAQ:SLTM shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Solta Medical Inc breached their fiduciary duties owed to NASDAQ:SLTM investors in connection with the proposed acquisition.
On December 16, 2013, Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) announced that it has entered into an agreement under which Valeant Pharmaceuticals International will acquire all of the outstanding common stock of Solta Medical Inc (NASDAQ:SLTM) for $2.92 per share in cash.
However, given that at least one analyst has set the high target price for NASDAQ:SLTM shares at $4.00 per share, the investigation concerns whether the $2.92-offer is unfair to NASDAQ:SLTM stockholders. More specifically, the investigation concerns whether the Solta Medical 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.
Shares of Solta Medical Inc closed on December 18, 2013, at $2.93 per share.
Those who are current investors in Solta Medical Inc shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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