SonoSite, Inc. Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate the Board of SonoSite, Inc. Concerning the Sale of SONO to Fujifilm Holdings Corporation

DALLAS, Jan. 24, 2012 /PRNewswire/ -- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of SonoSite, Inc. ("SonoSite" or "SONO") (NASDAQ: SONO) to Fujifilm Holdings Corporation.  Under the proposed transaction, SonoSite shareholders will receive $54.00 in cash for each share of SonoSite/SONO stock owned.

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On January 17, 2012, SonoSite issued a tender offer for the purchase of all outstanding shares, which will expire on February 15, 2012.  If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [email protected], or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at [email protected].  There is no cost or fee to you.

The definitive acquisition agreement involves an all cash transaction valued at approximately $995 million.

The lawsuit centers on whether SonoSite shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues SonoSite's stock, and whether SonoSite's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal.  More specifically, the transaction contains numerous deal protection measures that the firms believe prohibit competing offers, including a "no solicitation" provision that prohibits SonoSite from contacting other potential buyers to obtain a higher price and a nearly $25 million termination fee. According to shareholder rights attorney Willie Briscoe, "Although the acquisition price represents an approximate 28% premium over the closing price of SonoSite shares the day prior to the buyout announcement, another medical-products maker and competitor, Synovis Life Technologies, was recently bought out at a 52% premium.  Because of the lack of an appreciable premium, oppressive deal protection measures, and other factors, the firms believe that the transaction significantly undervalues SonoSite stock.  Our lawsuit will seek to obtain the highest share price for all shareholders."

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

SOURCE Powers Taylor, LLP

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