San Diego, CA -- (SBWIRE) -- 09/24/2012 -- An investor in shares of IRIS International, Inc. (NASDAQ:IRIS) filed a lawsuit against directors in effort to block the proposed takeover of IRIS International at $19.50 per NASDAQ:IRIS share.
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 plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:IRIS investors arising out of the attempt to sell the company too cheaply via an unfair process to Danaher Corporation.
On September 17, 2012, IRIS International, Inc. announced that it has entered into a merger agreement under which Danaher Corporation will acquire IRIS International for $19.50 per share in cash.
In fact, 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.
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