An investigation on behalf of investors of IRIS International, Inc. (NASDAQ:IRIS) in connection with the takeover was announced and NASDAQ:IRIS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/19/2012 -- An investigation on behalf of investors in IRIS International, Inc. (NASDAQ:IRIS) shares was announced concerning whether the offer by Danaher Corporation to acquire IRIS International, Inc. for $19.50 per NASDAQ:IRIS share and the takeover process are unfair to investors in NASDAQ:IRIS shares.
Investors who purchased shares of the IRIS International, Inc. (NASDAQ:IRIS) prior to September 17, 2012, and currently hold any of those NASDAQ:IRIS shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of the IRIS International, Inc. breached their fiduciary duties owed to NASDAQ:IRIS investors in connection with the proposed acquisition.
On September 17, 2012, IRIS International, Inc. (Nasdaq:IRIS) announced that it has entered into a merger agreement under which Danaher Corporation (NYSE:DHR) will acquire IRIS International for $19.50 per share in cash.
However, IRIS International’s performance for its investors improved lately. For instance, IRIS International, Inc. (NASDAQ:IRIS) reported that its annual Revenue rose from $95.50 million in 2008 to $118.32 million in 2011. For the second quarter 2012 IRIS International, Inc. reported an increase in its quarterly Revenue from $30.16 million last year to $30.91 million this year and its Net Loss of $0.34 million for the second quarter 2011 turned into a second quarter 2012 Net Income of $1.21 million.
Furthermore, within one year shares of IRIS International, Inc. (NASDAQ:IRIS) grew from $7.89 per share in September 2011 to $13.42 per share on September 14, 2012.
Therefore the investigation a law firm concerns whether the proposed transaction is unfair to NASDAQ:IRIS stockholders.
Specifically, the investigation focuses on whether the IRIS International 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.
Those who are current investors in IRIS International, Inc. (NASDAQ:IRIS) and purchased their IRIS International, Inc. shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego