MURRAY FRANK LLP Announces Investigation of Synovis Life Technologies, Inc.
January 05 2012 - 3:12PM
Business Wire
MURRAY FRANK LLP is investigating claims of breach of fiduciary
duties by certain members of the board of directors of Synovis Life
Technologies, Inc. (NASDAQ: SYNO) (“Synovis” or the “Company”) in
relation to the acquisition of the Company by Baxter International
Inc. (“Baxter”).
On December 13, 2011, Synovis and Baxter announced that they had
entered into a definitive agreement pursuant to which Synovis will
be acquired by Baxter, in an all-cash transaction under which
Synovis stockholders will receive $28.00 in exchange for each share
of Synovis common stock owned, a total value of approximately $325
million.
The investigation focuses on whether certain members of the
board of directors breached their fiduciary duties in connection
with their efforts to sell Synovis to Baxter at an inadequate price
through an unfair process which significantly undervalues the
Company.
If you are a current investor in Synovis, who purchased SYNO
shares before December 13, 2011, and you wish to discuss this
investigation or have any questions concerning this notice or your
rights or interests with respect to these matters, please contact
Bridget V. Hamill at (800) 497-8076 or (212) 682-1818, or by email
at investigations@murrayfrank.com.
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