An investigation on behalf of investors of Lumenis Ltd (NASDAQ:LMNS) in connection with the proposed takeover was announced and NASDAQ:LMNS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/01/2015 -- An investigation for investors in NASDAQ:LMNS shares was announced concerning whether the takeover of Lumenis Ltd. by XIO Group for $14.00 per share is unfair to NASDAQ:LMNS stockholders.
Investors who purchased shares of Lumenis Ltd (NASDAQ:LMNS) and currently hold any of those NASDAQ:LMNS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Lumenis Ltd breached their fiduciary duties owed to NASDAQ:LMNS investors in connection with the proposed acquisition.
On June 18, 2015, Lumenis Ltd (NASDAQ:LMNS) announced that it has signed an agreement to be acquired by XIO Group for $14.00 per share in cash, for an aggregate purchase price of approximately $510 million.
However, given that at least one analyst has set the high target price for NASDAQ:LMNS shares at $18.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:LMNS stockholders. More specifically, the investigation concerns whether the Lumenis 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.
Lumenis Ltd reported that its annual Total Revenue rose from $246.98 million in 2011 to $289.72 million in 2014 and that its Net income of $0.69 million in 2011 increased to a Net Income of $12.72 million in 2014. Shares of Lumenis Ltd (NASDAQ:LMNS) grew from $8.65 per share in May 2014 to as high as $12.40 per share on June 8, 2015.
On June 30, 2015, NASDAQ:LMNS shares closed at $13.72 per share.
Those who are current investors in Lumenis Ltd (NASDAQ:LMNS) 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