The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of Orthovita,...
May 17 2011 - 4:42PM
Business Wire
The Law Offices of Vincent Wong are investigating the Board of
Directors of Orthovita, Inc. (Nasdaq: VITA) for possible breaches
of fiduciary duty and other violations of state law in connection
with the sale of the Company to Stryker Corporation (NYSE: SYK).
Under the terms of the proposed deal, Orthovita shareholders will
receive $3.85 per share in cash for a total transaction value of
approximately $316 million.
The investigation concerns whether the Orthovita Board of
Directors breached their fiduciary duties to Orthovita stockholders
by failing to adequately shop the Company before entering into this
transaction and whether Stryker Corporation is underpaying for
Orthovita shares. According to Thomson/First Call, at least one
analyst set a price target for Orthovita stock at $4.00 per
share.
If you own common stock in Orthovita and wish to obtain
additional information, please contact Vincent Wong, Esq. either
via email vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/orthovita-inc.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights. Attorney advertising.
Prior results do not guarantee similar outcomes.
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