Stratasys, Inc. (NASDAQ:SSYS) Investor Alert: Investigation of Buyout
An investigation on behalf of investors of Stratasys, Inc. (NASDAQ:SSYS) in connection with the takeover was announced and NASDAQ:SSYS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWire) -- 07/02/2012 --An investigation on behalf of investors in Stratasys, Inc. (NASDAQ:SSYS) shares was announced concerning whether the offer to acquire Stratasys, Inc. and the takeover process are unfair to investors in NASDAQ:SSYS shares.
Investors who purchased shares of Stratasys, Inc. (NASDAQ:SSYS) prior to April 16, 2012, and currently hold any of those NASDAQ:SSYS 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 Stratasys, Inc. breached their fiduciary duties owed to NASDAQ:SSYS investors in connection with the proposed acquisition.
On April 16, 2012, Stratasys, Inc. (NASDAQ:SSYS) announces that the boards of directors of Stratasys, Inc. and Objet Ltd. have approved a merger agreement under which the companies would combine in an all-stock transaction with a combined equity value of approximately $1.4 billion, based upon the closing price of Stratasys' common stock on April 13, 2012. Under the terms of the agreement, Stratasys will merge with a subsidiary of Objet, and Stratasys shareholders will receive one share of the new combined company for each share of Stratasys common stock they own.
However, Stratasys, Inc. (NASDAQ:SSYS) has performed well in the recent past. Its annual Revenue rose from $98.97million in 2009 to $155.89million in 2011 and its Net Income increased from $4.12million in ’09 to $20.63million in 2011. Shares of Stratasys, Inc. (NASDAQ:SSYS) grew from as low as $8.15 per share in March 2009 to as high as $53.85 per share in April 2011. In fact, NASDAQ:SSYS shares traded as recently as May 23, 2012 as high as $54.49 per share.
Therefore the investigation for NASDAQ:SSYS investors concerns whether the proposed transaction is unfair to Stratasys stockholders. Specifically, the investigation focuses on whether the Stratasys 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 Stratasys, Inc. (NASDAQ:SSYS) and purchased their Stratasys, 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
Media Relations Contact
Media and Client Relations Manager
Shareholders Foundation, Inc.
View this press release online at: http://rwire.com/150998