X-Rite Merger Investigated by the Securities Attorneys at The Briscoe Law Firm and Powers Taylor, LLP
April 10 2012 - 1:26PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of X-Rite, Inc. (“X-Rite” or “XRIT”)
(NASDAQ: XRIT) to Danaher for shareholders. Under the proposed
buyout, X-Rite shareholders will receive $5.55 in cash for each
share of X-Rite stock owned.
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
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The definitive merger agreement involves an all cash transaction
with a total value of approximately $625 million including the
assumption of debt. The transaction is expected to close during the
second quarter 2012.
The investigation centers on whether X-Rite shareholders are
receiving adequate compensation for their shares in the buyout,
whether the transaction undervalues X-Rite’s stock, and whether
X-Rite’s board attempted to obtain the highest share price for all
shareholders prior to agreeing to the deal. According to
shareholder rights attorney Willie Briscoe, “Based on the lack of a
significant premium to X-Rite shareholders, and other factors, the
firms are investigating whether the buyout price is fair to X-Rite
shareholders. Our proposed shareholder lawsuit seeks to obtain
additional value for shareholders than what is proposed in the
current buyout offer."
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.
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