SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Analogic Corporation (ALOG) and Lead Plaintiff Deadline - August 21, 2018
NEW YORK, Aug. 2, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Analogic Corporation, ("Analogic" or the "Company") (NASDAQ: ALOG) for alleged breaches of fiduciary duty in connection with the proposed sale of the Company to Altaris Capital Partners, LLC ("Altaris"). Investors who held common stock on May 11, 2018, the record date to vote on the Agreement and Plan of Merger, are encouraged to join this case by visiting the firm's site: www.bgandg.com/alog.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
On April 10, 2018, Analogic revealed that it had entered into an Agreement and Plan of Merger with Altaris, under which each share of Analogic common stock would be converted into the right to receive $84 in cash (the "Transaction"). The Transaction consideration signified a 12.5% discount to Analogic stock's $96.05 per share closing price right before the Transaction was publicized. On May 16, 2018, defendants filed a Definitive Proxy Statement on Schedule 14A with the SEC (the "Proxy") to solicit shareholder approval of the Transaction.
According to the complaint, defendants made false and/or misleading statements in the Proxy about the merger process and specifically misrepresented material information in connection with: (1) the sales process for the Company; and (2) certain financial forecasts prepared by Analogic and relied upon by Citi. The complaint continues to allege that by including the statements in the Proxy, defendants encouraged shareholders to accept to the Board's recommendation to vote in favor of the unfairly priced Transaction. Following the uninformed shareholder vote, defendants completed the Transaction on June 22, 2018.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/alog or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Analog you have until August 21, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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