Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Proposed Sale of Solta Medical, Inc. to Valeant ...

Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of Solta Medical, Inc. (NASDAQ: SLTM) breached their fiduciary duties in connection with the planned sale of the company to Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX).

Solta is a global leader in the medical aesthetics market providing innovative, safe, and effective solutions for patients that enhance and expand the practice of medical aesthetics for physicians. On December 16, 2013, Solta and Valeant announced that they had entered into a definitive agreement under which Valeant will acquire all of the outstanding shares of Solta’s common stock for $2.92 per share in cash. The acquisition is worth a total of approximately $250 million. The transaction is structured as a tender offer, and the parties expect the transaction to close in the first quarter of 2014.

The investigation concerns whether Solta’s board members failed to satisfy their duties to the company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock.

In particular, the deal comes on the heels of Solta’s recent announcement that it was considering its strategic alternatives. On November 11, 2013, Solta announced during an earnings call that it had hired Piper Jaffray to explore the company’s strategic alternatives. Barely one month later, Solta and Valeant entered into a definitive agreement. Moreover, the $2.92 per share agreed to by the Solta board is less than the $3 per share median price target set by analysts and falls well short of the high-end $4 per share price target.

If you are a Solta shareholder and would like additional information concerning your legal rights, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at 619-230-0063.

Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California and New York. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.

Johnson & Weaver, LLPJim Baker, 619-230-0063 Ext. 118jimb@johnsonandweaver.com

Solta Medical, (MM) (NASDAQ:SLTM)
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