A lawsuit was filed for investors in shares of Analogic Corporation (NASDAQ: ALOG) in connection with the proposed takeover and NASDAQ: ALOG stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/23/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Analogic Corporation (NASDAQ: ALOG), filed a lawsuit against the takeover of of Analogic Corporation by Altaris Capital Partners, LLC for $84.00 per share.
Investors who purchased shares of Analogic Corporation (NASDAQ: ALOG) and currently hold any of those NASDAQ: ALOG shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: ALOG stockholders by agreeing to sell Analogic Corporation cheaply via an unfair process.
Peabody, MA based Analogic Corporation designs, manufactures, and sells medical imaging systems, ultrasound and security systems, and subsystems to original equipment manufacturers (OEMs) and end users primarily for the medical and airport security markets worldwide.
On April 10, 2018, Analogic Corporation (NASDAQ:ALOG) and Altaris Capital Partners, LLC, a leading private investment firm with expertise in Analogic's end markets, today announced that the Company and an affiliate of Altaris Capital Partners (together with certain affiliated entities, "Altaris") have entered into a merger agreement under which Analogic will be acquired by Altaris for $84.00 per share in cash, or approximately $1.1 billion on a fully diluted basis.
However, the plaintiff claims that the proposed consideration NASDAQ: ALOG shareholders will receive is grossly inadequate and undervalues Analogic Corporation. Indeed, at least one analyst has set the high target price for NASDAQ: ALOG shares at $95.00 per share. In addition, the plaintiff alleges that the process is also unfair NASDAQ: ALOG stockholders.
Those who are current investors in Analogic Corporation (NASDAQ: ALOG) 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