The Law Offices of Vincent Wong Announce an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Matrix...
December 23 2010 - 6:59PM
Business Wire
The Law Offices of Vincent Wong is investigating the Board of
Directors of Matrixx Initiatives (NASDAQ:MTXX) for possible
breaches of fiduciary duty and other violations of state law in
connection with the proposal from H.I.G. Capital, LLC. (“H.I.G.”)
to acquire all outstanding shares of Matrixx. Under the terms of
the transaction, Matrixx shareholders will receive $8.00 in cash
per share for a total transaction value of approximately $75.2
million.
The investigation concerns whether the Matrixx Board of
Directors breached their fiduciary duties to Matrixx stockholders
by failing to adequately shop the Company before entering into this
transaction and whether H.I.G. is underpaying for Matrixx shares.
At least one analyst set a price target for Matrixx stock at
$8.50.
If you own common stock in Matrixx and wish to obtain additional
information, please contact Vincent Wong, Esq. either via email
vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/matrixxmtxx.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights. Attorney advertising.
Prior results do not guarantee similar outcomes.
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