The Wright Medical Group, Inc. Acquisition By Tornier N.V. May Not Be In The Best Interests of WMGI Shareholders
NEW YORK, Nov. 6, 2014 /PRNewswire/ -- The fairness of the proposed acquisition of Wright Medical Group, Inc. ("WMGI" or the "Company") by Tornier N.V. ("Tornier") is the subject of an examination by WeissLaw LLP, a national class action, shareholder rights law firm. The examination is focusing on possible breaches of fiduciary duty and other violations of law by the Board of Directors of WMGI for agreeing to sell the Company to Tornier. On October 27, 2014, the Company announced it had reached a definitive agreement for Tornier to acquire WMGI in a transaction valued at approximately $3.3 billion. Under the terms of the agreement, WMGI shareholders will receive 1.0309 shares of Tornier for each WMGI share they own. Based on Tornier's closing stock price on October 24, 2014, the consideration is valued at $24.32.
WeissLaw is investigating whether WMGI's Board acted to maximize shareholder value prior to entering into the agreement. Notably, prior to the announcement of the deal, at least three analysts set a price target for WMGI of $40.00 per share – over $15.00 above the price offered by Tornier.
Given these facts, WeissLaw is investigating the Board's decision to sell WMGI and whether WMGI's shareholders will obtain their fair and proportionate share of the Company's continued success and future growth prospects. If you own WMGI shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin or Kelly Keenan by telephone at (888) 593-4771 or by email at [email protected].
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected] or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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WeissLaw LLP
Joshua Rubin
Kelly Keenan
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New York, NY 10036
T: 212.682.3025
F: 212.682.3010
www.weisslawllp.com
[email protected]
SOURCE WeissLaw LLP
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