MERION, Pa., Jan. 28, 2016
/PRNewswire/ -- The Law Offices of Marc S. Henzel (www.henzellaw.com), a firm
focusing on shareholder litigation, gives notice to shareholders of
investigation into the following securities for violations of the
Federal Securities Laws:
HeartWare International Inc. (Nasdaq: HTWR) 6/10/14
thru 1/11/16
On September 9, 2015, HeartWare
disclosed that it was halting enrollment in the MVAD trial because
of a manufacturing problem with the device. On October 12, 2015, HeartWare disclosed that
patients in the MVAD trial had suffered adverse events, and that
the trial would be further delayed. And on January 11, 2016, the Company revealed that
problems with MVAD had resulted in serious adverse events in nearly
half of the patients so far implanted with the device, and that the
trial would be delayed indefinitely. In response to each of these
disclosures, the price of HeartWare's common stock declined
significantly.
Tower Semiconductor Ltd. (Nasdaq:
TSEM) 4/30/12 thru 1/13/16
On January 14, 2016, a report was
issued about the Company claiming that the value of the net
tangible assets of the acquisitions from Micron and Panasonic were
artificially inflated, and that Tower understated its debt due to
improper accounting relating to the Debentures. After this news,
Tower stock fell approximately 10%.
Freeport-McMoRan Inc. (NYSE: FCX) 2/27/15 thru
1/15/16
On November 19, 2015, the Financial
Times reported the news, initially reported by the Jakarta Globe,
that Freeport Indonesia has pledged its full cooperation in an
impending inquiry by the Indonesian House of Representatives in to
allegations that Speaker Setya Novanto's ("Novanto") solicited
bribes from Freeport. On this
news, Freeport stock fell
$0.36, or 4.1%, to close at
$8.41 on November 19, 2015.
On November 25, 2015, the
Indonesian magazine Tempo published an interview with Novanto
concerning the probe into Novanto's dealings with Freeport
Indonesia. Concerning his meetings with Sjamsuddin, Novanto stated,
in part, that he believed Maroef Sjamsuddin had attempted to
"blackmail" and "entrap" him. On this news, Freeport stock fell $0.20, or 2.4%, to close at $8.10 on November 25,
2016.
On November 26, 2015, the blog
Indonesian Development Monitoring reported that Indonesia's State-Owned Enterprise Workers
Union intended to request that the U.S. Department of Justice
("DOJ") investigate Freeport for
potential violations of the FCPA, "by engaging in what we believe
is likely . . . bribery of high-level government official and Chief
of House Speaker in Indonesia to
renew[] the Freeport mining
contract."
On December 3, 2015, testifying
before an Indonesian parliamentary committee regarding Novanto's
solicitation of bribes from Freeport, Maroef Sjamsuddin stated that he had
turned over his recording of the conversation with Novanto to his
superiors at Freeport to "show my
integrity and transparency" before the recording was turned over to
the Indonesian government. On this news, Freeport stock fell $0.15, or 1.9%, to close at $7.68 on December 3,
2015.
Natural Health Trends Corp. (Nasdaq: NHTC)
3/6/15 thru 1/12/16
On January 12, 2016, a report was
issued asserting among other things, that news broke on several
reputable Chinese media sites that morning, including SINA Finance,
claiming the Company had been raided and is under investigation. On
this news, shares of Natural Health Trends dropped over 7%, closing
at $19.18 per share on January 12, 2015, on heavy trading volume.
MannKind Corporation (Nasdaq: MNKD)
8/10/15 thru 1/5/16
On January 5, 2016, MannKind issued a
press release entitled "MannKind Corporation Announces Termination
of License and Collaboration Agreement with Sanofi." Also on
January 5, 2016, it was reported that
Sanofi spokesman, Jack Cox, said in
an emailed statement that Sanofi terminated the agreement with
MannKind due to continued low level of prescriptions "despite our
[Sanofi's] substantial efforts." It was then further reported that
Sanofi spokesman, Jack Cox, further
said in his January 5, 2016 emailed
statement that prescription levels of Afrezza never even met
"modest expectations."
On this news, the Company's stock fell $0.70 per share, or over 48%, to close at
$0.75 per share on January 5, 2015, damaging investors.
Talmer Bancorp, Inc. (Nasdaq: TLMR) 1/26/16
The firm's investigation concerns whether Talmar's directors are
breaching their fiduciary duties by failing to adequately maximize
shareholder value. Under the terms of the proposed transaction,
Talmar's shareholders will receive $15.64 per share in cash and stock for each
Talmar share they own. However, the offer price is below: (1) the
52-week high of $18.48 per share, (2)
the 52-week average of $16.26 per
share, and (3) the median analyst price target of $20.30 per share. Significantly, the offer price
has a negative premium of 2.3% from the closing price of
$16.00 per share on 1/25/16.
FirstMerit Corporation (Nasdaq: FMER) 1/26/16
The firm has commenced an investigation into the fairness of the
sale of FirstMerit Corp. (FMER) to Huntington Bancshares
Incorporated (HBAN) for 1.72 shares of Huntington stock and
$5.00 in cash per FirstMerit share,
representing a value of approximately $20.14 per share. The consideration valued at
approximately $20.14 per share, is
virtually no premium over the 52-week high.
If you would like to learn more about the investigation of these
companies, would like to learn more about any potential claims or
you wish to discuss these matters and have any questions concerning
this announcement or your rights, please contact Marc S. Henzel (610) 660-8000, email at
Mhenzel@Henzellaw.com, or to sign up online, visit the firm's
website at www.henzellaw.com.
The Law Offices of Marc S. Henzel
is a national shareholder litigation firm representing shareholders
& investors in various areas of securities laws including but
not limited to: class actions, derivatives, transactional
(buyouts/takeovers/mergers) and FINRA & NYSE Arbitrations.
Contact:
Law Offices of Marc S. Henzel
Marc S. Henzel
Email: Mhenzel@Henzellaw.com
Phone 610-660-8000
Website: www.henzellaw.com
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SOURCE Law Offices of Marc S.
Henzel