A lawsuit was filed for investors in shares of Solta Medical Inc (NASDAQ:SLTM) in effort to halt the proposed takeover and NASDAQ:SLTM stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 01/15/2014 --An investor, who currently hold shares of shares of Solta Medical Inc (NASDAQ:SLTM) filed a lawsuit in effort to halt the proposed takeover of Solta Medical Inc by Valeant Pharmaceuticals International for $2.92 per share.

Investors who purchased shares of Solta Medical Inc (NASDAQ:SLTM) and currently hold any of those NASDAQ:SLTM 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:SLTM stockholders arising out of the attempt to sell Solta Medical Inc too cheaply via an unfair process to Valeant Pharmaceuticals International.

On December 16, 2013, Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) announced that it has entered into an agreement under which Valeant Pharmaceuticals International will acquire all of the outstanding common stock of Solta Medical Inc (NASDAQ:SLTM) for $2.92 per share in cash.

However, the plaintiff alleges that the $2.92-offer is too low and undervalues Solta Medical Inc. Indeed, at least one analyst has set the high target price for NASDAQ:SLTM shares at $4.00 per share.

Shares of Solta Medical Inc closed on Jan. 13, 2014, at $2.92 per share.

Those who are current investors in Solta Medical Inc shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com