San Diego, CA -- (SBWIRE) -- 07/18/2012 -- An investor in Stratasys, Inc. (NASDAQ:SSYS) shares filed a lawsuit against members of the board of directors of Stratasys, Inc. in effort to stop the proposed takeover of Stratasys, Inc. by Objet Ltd.
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 plaintiff alleges that defendants breached their fiduciary duties owed to NASDAQ:SSYS investors in connection with the proposed acquisition. The plaintiff says that Stratasys’ board members are aggrandizing their own financial position and interests and the interests of other company insiders at the expense of and to the detriment of all other NASDQ:SSYS investors.
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, the plaintiff claims that Stratasys, Inc. (NASDAQ:SSYS) did not fully inform its shareholders. Specifically, so the lawsuit, the preliminary proxy omits material information with respect to the process and events leading up to the proposed transaction.
Furthermore, the plaintiff claims, that the deal is locked in with a $48 million termination fee and prohibits Stratasys, Inc from soliciting alternative proposals
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