WeissLaw LLP Investigates the InSite Vision Inc. Acquisition

NEW YORK, June 10, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of InSite Vision Inc. ("INSV" or the "Company") by QLT Inc. ("QLT") is being investigated by WeissLaw LLP, a national class action, shareholder rights law firm, for possible breaches of fiduciary duty and other violations of law by the Board of Directors of INSV for agreeing to sell to QLT. On June 8, 2015, the Company announced a definitive agreement for QLT to acquire INSV in an all-stock transaction. Under the deal, INSV shareholders will receive 0.048 share of QLT for each INSV share they own; implying a per share value of approximately $0.19 based on the June 8, 2015 closing price of QLT shares.  

WeissLaw is investigating whether INSV's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $0.70 per share, or approximately 4 times the offer price. Additionally, the Company's shares traded for $0.24 per share as recently as February 17, 2015. Moreover, INSV recently announced positive financial results. It reported revenues of $3.4 million for the first quarter ended March 2015, as compared to $1.2 million in the same period of the previous year.    

Given these facts, WeissLaw is investigating the Board's decision to sell INSV and whether INSV shareholders will obtain their fair and proportionate share of the Company's continued success and future growth prospects. If you own INSV 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 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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SOURCE WeissLaw LLP

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