An investigation on behalf of investors of Trivascular Technologies Inc (NASDAQ:TRIV) in connection with the proposed takeover was announced and NASDAQ:TRIV stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/17/2015 -- An investigation for shareholders in Trivascular Technologies Inc (NASDAQ:TRIV) shares was announced concerning the takeover of Trivascular Technologies Inc by Endologix, Inc.
Investors who purchased shares of Trivascular Technologies Inc (NASDAQ:TRIV) and currently hold any of those NASDAQ:TRIV shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Trivascular Technologies Inc breached their fiduciary duties owed to NASDAQ:TRIV investors in connection with the proposed acquisition.
On October 26, 2015, Endologix, Inc. (Nasdaq:ELGX) and Trivascular Technologies Inc (NASDAQ:TRIV) announced that they have entered into a merger agreement under which Endologix and Trivascular Technologies Inc (NASDAQ:TRIV) will combine in a stock and cash transaction. The transaction is valued at $9.10 per Trivascular Technologies Inc (NASDAQ:TRIV) share, or a total of approximately $211 million, based on Endologix'sclosing stock price of $13.81 per share on October 23, 2015.
However, given that at least one analyst has set the high target price for NASDAQ:TRIV shares at $13.00 per share and given that NASDAQ:TRIV shares traded in June 2014 as high as $17.25 per share, the investigation concerns whether the offer is unfair to NASDAQ:TRIV stockholders.
In addition, given that in connection with the merger, certain executive officers and the directors of TriVascular, including investment entities affiliated with the directors ofTriVascular, have already entered into voting agreements with Endologix covering approximately 32.5% of TriVascular's outstanding shares, the investigation concerns whether the Trivascular Technologies 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.
On November 16, 2015, NASDAQ:TRIV shares closed at $7.52 per share.
Those who are current investors in Trivascular Technologies 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